Northern Trust has announced the latest enhancement to its Hedge Fund Monitor solution today, with the addition of a new compliance module designed to support the unique demands of UCITS funds-of-hedge funds.

“Our latest Hedge Fund Monitor enhancement helps fund managers running UCITS funds-of-hedge-funds to monitor their compliance with restrictions on liquidity, concentration risk and exposure to underlying non-UCITS funds,” said Ian Headon, senior product manager for alternative asset servicing at Northern Trust.

“In addition to real time, customised investment compliance measurement and performance and liquidity reporting, we have added functions specific to restrictions and guidelines relating to UCITS funds. This assists managers in assessing a fund’s self-imposed strategy and geographical restrictions along with compliance with UCITS guidelines,” he added.

“Northern Trust is committed to meeting the asset servicing needs of traditional and alternative investment managers, often with complex fund structures and multi-jurisdictional requirements,” said Wilson Leech, head of Northern Trust’s Global Fund Services business. “Through our Hedge Fund Monitor solution, we remain focused on helping our clients to manage risk, liquidity and counter-party exposures, and enhance operational control and governance through the availability of timely, automated data that is critical to their portfolio management processes.”