Sands Capital Management Selects Northern Trust as Asset Servicing Provider for US$6 Billion Ireland-Domiciled UCITS Fund

Northern Trust (Nasdaq: NTRS) today announced it has been selected by Sands Capital Management to provide fund administration, transfer agency, depositary and global custody services to its Ireland-domiciled Undertakings for Collective Investment in Transferable Securities (UCITS) umbrella fund.

Sands Capital's US$6 billion UCITS umbrella fund, Sands Capital Funds Plc, currently operates four sub-funds delivering equity investment strategies focused on global, US and emerging markets. The appointment sees Sands Capital consolidate provision of all asset servicing functions for Sands Capital Funds Plc to Northern Trust.

Dana McNamara, chief administrative officer at Sands Capital said: "We are consolidating service provision to streamline our operating model and create efficiencies across our fund operations. In Northern Trust, Sands Capital has appointed an asset servicing partner with the scale, experience and technology to support the significant growth of our funds and help us continue to deliver a premium-level service to our investors as we grow."

This appointment builds on Northern Trust's existing relationship with Sands Capital, which includes providing asset servicing solutions for its unregistered funds domiciled in the US.

Clive Bellows, head of Global Fund Services, Europe, Middle East and Africa at Northern Trust said: "Across our business, we are working with forward-looking clients such as Sands Capital to optimize their operating models, maximize technology use and enhance the scalability of their fund operations. Our global reach and comprehensive set of solutions means Northern Trust is well-placed to help Sands Capital reach new investors and execute its strategic plans."

Northern Trust's Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and capital market revenue enhancement solutions to global investment managers ? supporting a range of complex investment strategies across the full spectrum of asset classes.

About Sands Capital Management

Sands Capital is an active, long-term investor in leading innovative businesses globally. Our approach combines rigorous fundamental analysis with creative thinking to identify high-quality growth businesses that are creating the future. Through high-conviction strategies designed to concentrate investment in such businesses, we serve the long-term growth objectives of institutions and fund sponsors in more than 40 countries. An independent, staff-owned firm based in the Greater Washington, DC area, Sands Capital managed more than US $58 billion in client assets as of October 31, 2020. www.sandscapital.com

The views expressed are the opinion of Sands Capital Management and are not intended as a forecast, a guarantee of future results, investment recommendations, or an offer to buy or sell any securities.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2020, Northern Trust had assets under custody/administration of US $13.1 trillion, and assets under management of US $1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

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