Northern Trust Expands Invesco Ties with New Irish Mutual Fund Mandate — Northern Trust Corporation (Northern Trust Asset Management)

Event summary

Northern Trust appointed to provide administration, custody and depositary services for Invesco's new Irish-domiciled index-tracking mutual fund range (Invesco Markets V ICAV).
The mandate extends Northern Trust's existing relationship with Invesco, which includes support for its synthetic ETF platform and digital assets platform.
Invesco manages $2.45 trillion in AUM as of May 31, 2026, while Northern Trust has $18.6 trillion in assets under custody/administration as of March 31, 2026.

The big picture

This appointment underscores the growing demand for sophisticated asset servicing solutions that support complex investment structures. The move reflects broader industry trends toward cross-border fund distribution and the increasing importance of synthetic replication strategies in passive investing. With Northern Trust's $18.6 trillion in assets under custody/administration and Invesco's $2.45 trillion AUM, this partnership represents a significant intersection of scale and specialized expertise.

What we're watching

Scale and Integration: How Northern Trust will manage the integration of this new mutual fund range with Invesco's existing investor servicing infrastructure.
Market Expansion: Whether this appointment signals further expansion of synthetic index replication strategies into European mutual fund markets.
Competitive Positioning: The pace at which Northern Trust can leverage this win to attract similar mandates from other large asset managers.