17 Aug SCORPEO and Northern Trust
Northern Trust Offers Innovative Historical Corporate Actions Reporting Solution
Market Leading Solution Delivered by SCORPEO Helps Investors Realize Full Value in Corporate Actions
London, 17 August 2016 – Northern Trust (Nasdaq: NTRS) and SCORPEO today announce that they have entered into an agreement to use SCORPEO’s services to provide an innovative historical corporate actions reporting service, designed to help investors realize the full value in corporate actions.
The Northern Trust Historical Corporate Actions Transparency report calculates the missed value across portfolios resulting from sub-optimal corporate action elections. Using SCORPEO Harmonia™ technology, which enables historical analysis, it generates detailed reports to show investors exactly how much value has been missed.
“Around one million corporate actions take place every year across the globe. Many of these events require investment managers to make an election or active decision,” said Chris Barrow, head of business development at SCORPEO. “Election decisions require an investment in time, resource, expertise and a mandate to capture the optimal value, and can have a significant impact on fund performance.”
“Investment managers are focused on transparency, fiduciary obligations and maximising investment returns,” said Robert Angel, head of product and regulatory solutions, Northern Trust. “However substantial evidence suggests that performance optimization related to the intrinsic value in corporate actions is often not being achieved with billions of dollars estimated to be missed every year.”
“We are pleased to collaborate with SCORPEO to create this innovative reporting solution,” said Peter Cherecwich, head of Northern Trust’s Global Fund Services business. “It addresses our clients’ demands for greater transparency and clarity around their investments, giving them the tools to help drive better business results and capture greater value.”
See attached .pdf of the Press Release