Sands Capital consolidates Irish UCITS admin with Northern Trust

Sands Capital Management, a U.S.-based manager with USD58bn AuM, has selected Northern Trust to provide fund administration, transfer agency, depositary and global custody services for its USD6bn Ireland-domiciled UCITS umbrella fund. The appointment consolidates provision of all asset servicing functions for Sands Capital Funds Plc to Northern Trust. The mandate builds on Northern Trust’s existing relationship with Sands Capital, which includes providing asset servicing solutions for its unregistered funds domiciled in the U.S.