New York (HedgeCo.Net)- UK fund of hedge funds Gottex Market Neutral Trust Limited has announced that Chicago based multi-bank Northern Trust has been selected to provide custody and fund administration services to £45.35 million pounds Sterling (approximately $91 million).

The Guernsey registered fund of hedge funds is a closed-ended investment company trading on the London Stock Exchange. It has a global focus and seeks to achieve its investment objective through investing in underlying, independently market neutral hedge funds.

Sue Baines, Global Fund Services sales manager at Northern Trust said, “We’re delighted to be working with Gottex Fund Management as we continue to grow our alternative fund administration business. This is the first listed fund to be established under the recently introduced Guernsey registered closed-ended investment fund regime that enables regulatory consent to be granted within 72 hours of the application being submitted.”

Northern Trust has a growing network of 84 offices in 18 U.S. states and has international offices in 13 locations in North America, Europe and the Asia-Pacific region. As of March 31, 2007, Northern Trust had assets under custody of $3.8 trillion, and assets under investment management of $756 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and technology.

Founded in 1992, Gottex is a global investment management group specializing in absolute return strategies. With funds under management of approximately $11 billion, Gottex offers nine co mingled fund of hedge funds products and a variety of managed account solutions and specializes in conservative and market neutral strategies. Headquartered in Lausanne, Switzerland Gottex has offices in London, New York, Boston and Hong Kong, and affiliate offices in Sydney and Montevideo.

Alex Akesson

Contributing Writer
HedgeCo.Net
Email: Editor@hedgeco.net