Northern Trust (Nasdaq: NTRS) today announced its formal application for exemptive relief to offer Exchange-Traded Fund (ETF) share classes alongside existing mutual fund share classes for certain adviser series within its two sponsored series trusts: Advisers Investment Trust and Datum One Series Trust®. Filing these applications demonstrates Northern Trust’s commitment to providing asset managers with support and flexibility to meet the evolving preferences of their investors.
“ETFs continue to be a significant area of growth in the registered funds market,” said Phil Nanof, head of ETF Services, Americas at Northern Trust. “This capability would extend our ETF servicing framework within the multiple series trust model and reflects our focus on supporting asset managers as they consider a wider range of fund structures.”
While subject to regulatory approval, the ability to pursue ETF share classes alongside mutual fund share classes in a single fund creates additional options for asset managers as they consider changes to their product line-up, distribution strategies, and the benefits to fund shareholders.
Multiple series trusts are widely used by unaffiliated asset managers to operate registered investment funds under a shared governance and operational framework. By supporting both mutual funds and ETFs within the same trust structure, asset managers can pursue different fund formats while operating within an established regulatory and administrative environment.
“Choosing a trust structure is a long-term operating decision for asset managers,” said Barbara Nelligan, head of Service and Strategy Enablement, Global Fund Services, at Northern Trust. “This capability is intended to provide flexibility as asset managers assess how ETFs may fit into their broader distribution and product strategies, including the potential addition of ETF share classes to existing funds.”
Northern Trust provides a complete suite of Asset Servicing solutions including fund administration, global custody, investment operations outsourcing and data solutions – supporting a range of complex investment strategies across the full spectrum of asset classes.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2026, Northern Trust had assets under custody/administration of US$18.6 trillion, and assets under management of US$1.8 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
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