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Northern Trust

Northern Trust Parent Rating

Average

Northern Trust Asset Management, or NTAM, has a solid plan for improvement, but it will take time to assess execution under new leadership.

The firm maintains an Average Parent rating.

NTAM President Daniel Gamba took over in April 2023 and promised to double down on the asset manager's strengths. That means fortifying relationships with Northern Trust Wealth Managements' ultra-high-net-worth and institutional clientele, whom NTAM was built to serve. NTAM will aim to strengthen the money market and index funds those clients favor, then nurture the rest of the firm's lineup and potentially expand it.

Change has trickled through the investment organization as well. For instance, in his two-year tenure, CIO Angelo Manioudakis has seen significant leadership turnover in the fixed-income organization. He also converted the municipal-bond team from a generalist model to a specialized one. That was probably overdue but still requires personnel change and time to acclimate.

Despite the shakeups, NTAM does a lot right. The quantitative strategies team, formed under now equity CIO Mike Hunstad, is a deep unit that lends expertise to systematic and discretionary active offerings. The firm has shown discipline in developing new products and rarely closes existing ones. NTAM isn't a cost leader, but it prices funds competitively and recently cut fees on several mutual funds.

Northern Trust Investments

Market

US Open-end ex MM ex FoF ex Feeder

Total Net Assets

44.26 Bil

Investment Flows (TTM)

−1.85 Bil

Asset Growth Rate (TTM)

−4.52%

# of Share Classes

41
Morningstar Rating # of Share Classes
3
9
25
4
0
Not Rated 0

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