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Waystone ETFs to take over NTAM’s FlexShares ICAV platform


Waystone ETFs has agreed a deal with Northern Trust Asset Management (NTAM) to take over its Irish ETF platform. Northern Trust’s Flexshares ICAV, with assets of close to USD300 million, will become the Waystone ETF ICAV and Northern Trust will continue to be the investment manager to their own ETFs on this platform.

Paul Heffernan, CEO of Waystone ETFs, says: “Given Waystone’s size and scale, we have seen huge demand from our institutional clients who want to leverage our ETF platform services so they can focus their attention on product strategy and distribution. We’re delighted to be able to offer Northern Trust Asset Management, who will remain the investment manager to their ETF, this fully customisable solution and look forward to capitalising on the significant tailwinds in the ETF market globally.”

A Northern Trust spokesperson says: “We are committed to delivering investment solutions that meet our clients’ investment needs. This change will enable us to offer our institutional clients efficient access to UCITS ETFs, whilst retaining the investment management expertise and service levels of Northern Trust Global Investments Ltd. We remain the investment manager for the FlexShares Listed Private Equity UCITS ETF (FLPE)”

Going forward, FlexShares Listed Private Equity UCITS ETF and any future ETFs Northern Trust decide to launch under the Waystone ETF Platform ICAV will be custodied and administered by Northern Trust Fiduciary Services (Ireland) Limited and Northern Trust International Fund Administration Services (Ireland) Ltd respectively.

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