The NZ Super Fund, a sovereign wealth fund owned by the New Zealand government valued at more than NZ$73 billion (US$45.16 billion), has selected US-based investment manager Northern Trust to provide the fund’s data services via the asset manager’s Data Warehouse Solutions offering.

The fund was seeking a solution that would allow it to consolidate its data from different sources without impacting day-to-day delivery and enable it to scale as it transitions away from legacy technology.

Northern Trust’s solution offers full-suite, end-to-end management of data from multiple sources to a client-specific data warehouse hosted by the company. It also has interface, customization and data extraction features, and is designed, the company says, “to normalize an evolving universe of providers and applications into a highly automated, fit-for-purpose data service”.

Northern Trust has provided the NZ Super Fund with global custody and compliance monitoring services since 2007, and securities lending services from 2019. Northern Trust Asset Management has provided investment management services to the sovereign wealth fund since 2014.

“While it is still early days in our programme, Northern Trust’s Data Warehouse Solutions has quickly and seamlessly integrated with the technologies established in our modern data stack,” adds Craig Cullen, the fund’s head of data technology. “The combined solution improves resilience and supportability of data integration, with simplified and standardized data structure. This has made it easier to understand and work with the source data while improving data outcomes.”