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Wednesday, June 20, 2007

Northern Funds Links Up with PFPC Portal

News summary by MFWire's editors

Northern Funds, managed by Northern Trust, have joined the AdvisorCentral portal, operated by PFPC. The portal is used to consolidate individual accounts into customized client portfolios, check prices, build transaction histories and execute on transactions involving redemptions and exchanges.


PFPC, a member of The PNC Financial Services Group, Inc. (NYSE: PNC), announced today the addition of all Northern Funds to its AdvisorCentralTM portal, an online tool for financial advisors and broker/dealers to enhance management of individual investor portfolios through aggregated mutual fund and 529 account information.

Northern Funds is a family of mutual funds managed by Northern Trust Corporation, a global financial services company with assets under investment management of $756 billion.

Launched in 2001, AdvisorCentral aggregates client information from approximately 50 industry-leading mutual fund companies and six transfer agencies, representing 48 million accounts. Today, over 125,000 financial professionals use the portal to consolidate individual accounts into customized client portfolios, check prices, build transaction histories and execute on transactions involving redemptions and exchanges. PFPC acquired full ownership of the portal in December 2006.

“Northern Funds is an important addition to AdvisorCentral,” said Michael DeNofrio, executive vice president and senior managing director of PFPC’s transfer agency services. “Offering access to such a highly-regarded fund family allows PFPC to better serve the financial intermediaries by providing a more comprehensive view of individual client investment portfolios via a single source. The addition of Northern Funds reinforces our commitment to continuously enhance this tool for the financial advisor community.”

“The financial advisor is one of our most key constituents, serving as the conduit between the investor and our family of funds,” said Eric Schweitzer, senior vice president with Northern Trust. “Our participation in this centralized source of account data can expedite the advisor’s collection of data, enhance their analytics, facilitate certain types of transactions and potentially reduce demands on our own customer service resources.”

Northern Trust Corporation is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, 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. For more information, visit http://www.northerntrust.com.

PFPC, a member of The PNC Financial Services Group, Inc., is one of the nation’s largest full-service mutual fund transfer agents and a leading provider of processing, technology and business solutions to the global investment industry. PFPC offers fund accounting and administration, transfer agency, custody and sub-accounting services for 68 million shareholder accounts representing $2.2 trillion in total assets. Visit us at www.pfpc.com.  

Edited by: Erin Kello


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