Investment Products and Service Launches

Reliance Trust Company Partners with Northern Trust

Northern Trust has been selected by Reliance Trust Company to provide back-office support including custody, fund accounting, and transfer agent services for a collective investment trust (CIT) subadvised by Driehaus Capital Management.

Northern Trust’s Global Fund Services unit provides fund administration, global custody, and investment operation outsourcing solutions to more than 650 asset managers across the globe. It has experience in traditional and alternative investment vehicles.

“We are excited to be working closely with both Reliance Trust and Driehaus Capital Management to support this CIT fund for qualified retirement plans,” said Dan Houlihan, head of Global Fund Services in North America. “Our strong back-office service, expertise and technology, combined with Reliance Trust’s ERISA experience, bring together two parties with exceptional financial strength on behalf of asset managers like Driehaus Capital Management.”

Tom Seftenberg, managing director at Driehaus Capital Management, adds, “Reliance Trust and Northern Trust were selected as our CIT distribution platform based on their joint dedication to understanding our business and strategic goals through innovation and proactive engagement. Northern Trust’s culture of client service excellence and Reliance Trust’s commitment to oversight dovetail nicely with our investment responsibilities and distribution efforts.”

Wilshire Launches ESG Intermediate Credit Index

Wilshire Associates has expanded its Powered by Wilshire index with the addition of the Sage ESG Intermediate Credit Index. It is designed to provide an index optimized for highest Environmental, Social & Governance (ESG) ratings as well as liquidity.

The Sage ESG Intermediate Credit Index uses a systematic, rules-based approach to identify securities from the Bloomberg Barclays US Intermediate Credit Index with optimal ESG ratings, while closely aligning duration and risk characteristics to the Bloomberg Barclays US Intermediate Credit Index.

This Powered by Wilshire index was created by its owner Sage Advisory Services and Wilshire is retained as the index consultant and calculation agent.

“Aligned with Wilshire as our index consultant and calculation agent, our objective was to create an index that maximizes exposure to positive ESG qualities,” said Bob Smith, president and chief investment officer at Sage Advisory. “ESG is gaining a lot of traction and this index will serve as a great example of how powerful this method of investing has become.”

For more information about the newly launched SAGE ESG Credit index, visit Wilshire.