Chicago-based Northern Trust has introduced new performance and analysis tools for clients investing in private equity, hedge funds and other alternative assets.

The bank’s online performance analysis tool, Fundamentals, now provides access to internal rate of return measures and on-the-fly analysis of the funding status and growth of private markets assets, including private equity and real assets.

Fundamentals also includes on-demand access to metrics that accurately display hedge fund performance.

“These accounting and performance measurements go beyond traditional mean-variance analysis, recognizing the need to understand the often non-normally distributed return behavior of private equity, hedge funds and real estate,” said Christopher Mullooly, product manager for Investment Risk and Analytical Services at Northern Trust. 

Northern Trust has also strengthened the Private Monito brand of premium private equity investor services with the deployment of Private I 5.0, by the Burgiss Group.

Clients can track and analyze performance, and obtain ad hoc reports on various internal rate of return analyses, modified internal rate of return, funding and distribution ratios, and benchmark internal rate of return analysis.

As of 30 September, 2008, Northern Trust had assets under custody of $3.5 trillion, and assets under management of $652.4 billion.