Northern Trust Corporation (NTRS) is expanding its unit trust capabilities in Singapore through a new partnership with Perpetual (Asia) Limited. This collaboration aims to enhance custody, fund administration, and middle-office services by integrating Perpetual’s trustee and fiduciary expertise. The move aligns with Northern Trust’s strategy to capitalize on Singapore’s growth as a key asset management hub in Asia.
According to PwC, assets under management (AUM) in the Asia-Pacific region are projected to rise from $23.2 trillion in 2024 to $34.5 trillion by 2030, yielding a compound annual growth rate (CAGR) of 6.8%. Northern Trust’s asset-servicing business in the APAC region recorded $1 trillion in assets under custody (AUC) as of June 30, 2026, reflecting a 12% year-over-year increase.
The partnership with Perpetual is intended to strengthen Northern Trust’s competitive position and broaden its offerings for investment managers, supporting its objective to deepen client relationships and drive fee income in the growing asset servicing market.
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