Northern Trust and financial service company SCORPEO have announced an agreement to provide a corporate actions reporting solution using SCORPEO’s Harmonia technology, designed to help minimise lost value in corporate actions.

The Northern Trust Historical Corporate Actions Transparency Report will calculate the missed value across portfolios resulting from sub-optimal corporate action elections, using SCORPEO’s Harmonia technology, which offers historical analysis via detailed missed value reports.

The new service offering is designed to address demands for greater transparency and clarity from investors, according to the head of Northern Trust’s Global Fund Services business, Peter Cherecwich.

“Investment managers are focused on transparency, fiduciary obligations and maximising investment returns,” said Robert Angel, Northern Trust’s head of product and regulatory solutions.

“However substantial evidence suggests that performance optimization related to the intrinsic value in corporate actions is often not being achieved with billions of dollars estimated to be missed every year.”