USA – The California based Kayne Anderson Rudnick Investment Management has appointed Northern Trust Global Fund Services Practice to provide global custody, fund accounting and short-term cash management services to its new limited liability company, International Equity Fund.

The fund, targeted at high-net worth retail customers and institutional investors, is targeted to reach US$50m by the end of the year.
The custodian was also selected to provide on-line services via its Northern Trust Passport product.

Northern Trust currently has US$1.7trn in assets under custody.

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