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Article: Northern Trust Sees More Potential in Hedge Funds.
- Article from:
- American Banker
- Article date:
- February 26, 2007
- Author:
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After adding more than 50 hedge funds as administration and operations customers last year, Northern Trust Corp. anticipates healthy growth for that business this year, but it will have a tough time cracking the upper echelon of administrators.
From September through December the Chicago company's global hedge fund assets under administration increased 13%, to $26 billion, said Rick Wills, a senior vice president and the head of its global fund services business in North America. That increase included more than $1 billion of assets for funds serviced from Northern Trust's location in Chicago.
This year assets should grow between 30% and 50%, Mr. Wills ...