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Northern Trust Asset Management Provides Tax-Transparent Fund Range for Danish Institutional Investors

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Institutional investors in Denmark now have access to the unique tax-transparent benefits of Northern Trust Asset Management’s Common Contractual Fund (CCF) solutions, following a ruling by the Danish National Tax Board.

The tax-transparency of Northern Trust Asset Management’s CCF range is complemented by sustainability and the cost efficiency of a passive approach to investing, creating a compelling investment solution.

Confirmation of tax-transparency by local country tax authorities enables investors to obtain the same withholding tax rates as if they had invested directly in equities, with the added features of investing via a pooled fund – including tighter governance, better risk management, economies of scale and engagement.

“The ruling from the Danish National Tax Board will now allow institutional investors to take full advantage of the dual taxation treaties – and we believe this translates to greater return potential and opportunities to achieve enhanced performance,” said Mamadou-Abou Sarr, director of product development and sustainable investing at Northern Trust Asset Management. “According to our research, based on data as of 31 October 2017, by investing in a CCF, a Danish pension fund investing in a world equity index fund could achieve an uplift of 20 to 50 basis points, depending on the strategy, compared to investing in a non-tax-transparent vehicle.”

Northern Trust Asset Management’s CCF solutions offer three key benefits for Danish investors:

  • Tax-transparency: The CCF is a tax transparent structure which allows for the withholding tax rate of the investor, rather than the fund, to be applied.
  • Cost-efficiency: The Northern Trust Asset Management range of CCFs delivers passive exposure to a range of custom and standard indices as well as factor based strategies.
  • Sustainability: Many of the CCF funds incorporate core environmental, social and governance themes using exclusionary and best-in-class approaches.

“Institutional investors such as pension funds and insurance companies continue to grapple with regulatory change and face increasing demands to reduce bottom-line costs and improve top-line performance,” said Sarr. “Choosing the right investment vehicle is one way to achieve this and we are pleased to offer our range of tax-efficient CCFs to Danish investors.”

The firm’s CCF solutions are among a range of innovative product structures developed for the unique needs of today’s European investors. As of 31 December 2017, Northern Trust Asset Management had almost US$12 billion in assets under management in its comprehensive range of Irish and Dutch domiciled fund, which include both tax-transparent and non-tax transparent options for Danish investors.

About Northern Trust Asset Management
Northern Trust Asset Management is a leading global asset management firm serving institutional and individual investors in 29 countries. Our robust investment capabilities span all markets and asset classes, from passive and risk-factor to fundamental active, multi-asset class and multi-manager strategies, delivered in multiple vehicles. As of March 31, 2018, Northern Trust Corporation has $1.2 trillion in total assets under management, including $954.4 billion of Northern Trust Asset Management product assets. For more information, please visit our website or follow us on Twitter @NTInvest.

Northern Trust Asset Management comprises Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc. and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.

Northern Trust Asset Management comprises Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc. and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.

About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2018, Northern Trust had assets under custody/administration of US$10.8 trillion, and assets under management of US$1.2 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.

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/disclosures .

Investment in the Funds involves a degree of risk. There is no guarantee that the Funds’ investment objective, or risk monitoring, will be achieved and results may vary substantially over time. The Funds' investment strategy may carry considerable risks. The value of Investments and the income from them can go down as well as up and an investor may not get back the amount originally invested. The tax consequences of any Investment can vary considerably from one jurisdiction to another, ultimately will depend on the tax regime of the jurisdictions within which a person is tax resident and are subject to change from time to time. Unit holders should obtain tax advice from an appropriate source in relation to the tax liability arising from the holding of Units in the Fund and any Investment returns from those Units.

The following information is provided to comply with local disclosure requirements: The Northern Trust Company, London Branch; Northern Trust Global Services Limited; Northern Trust Global Investments Limited; Northern Trust Securities LLP. The following information is provided to comply with Article 9(a) of The Central Bank of the UAE’s Board of Directors Resolution No 57/3/1996 Regarding the Regulation for Representative Offices: Northern Trust Global Services Limited, Abu Dhabi Representative Office. The Northern Trust Company of Saudi Arabia – a Saudi closed joint stock company – Capital SAR 52 million. Licensed by the Capital Market Authority – License No. 12163-26 – C.R: 1010366439. Northern Trust Global Services Limited Luxembourg Branch, 6 rue Lou Hemmer, L-1748 Senningerberg, Grand-Duché de Luxembourg, Succursale d’une société de droit étranger RCS B129936. Northern Trust Luxembourg Management Company S.A., 6 rue Lou Hemmer, L-1748 Senningerberg, Grand-Duché de Luxembourg, Société anonyme RCS B99167. Northern Trust (Guernsey) Limited (2651)/Northern Trust Fiduciary Services (Guernsey) Limited (29806)/Northern Trust International Fund Administration Services (Guernsey) Limited (15532) Registered Office: Trafalgar Court Les Banques, St Peter Port, Guernsey GY1 3DA.

Contact information

Northern Trust
Europe, Middle East, Africa & Asia-Pacific Contacts:
Camilla Greene
+44 (0) 207 982 2176
Camilla_Greene@ntrs.com
or
Mat Barling
+44 (0) 207 982 1445
Mat_Barling@ntrs.com
http://www.northerntrust.com

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