Citi has been appointed by Skandia Investment Group (SIG) to provide a suite of investor services for SIGs two fund ranges.
Citi currently provides trustee, custody (including cash management), transfer agency, fund administration and foreign exchange solutions for Dublin-based Skandia Global Funds, and will now manage their fund factsheets and Key Investor Information Document (KIID) disclosure.
The mandate also encompasses custody and transfer agency services, fund administration, fund factsheets and foreign exchange solutions for SIGs UK-based fund, Skandia Investment Management Ltd.
The move to a single administrator is an important milestone in SIGs development as it enables us to benefit from a single operating platform in serving our business that enables consistency in our risk and control governance regime and enhance our investor experience with product in multiple jurisdictions, says Marc Bulstrode, COO at Skandia Investment Group. Its also good news for the rest of Skandia, and the asset managers within our parent company Old Mutual, as the Citi global operating model and platform will be available to all within the wider group. SIG and Old Mutual are looking forward to working closely with Citi within this strategic business partnership.
Andrew Gelb, EMEA head of Securities and Fund Services at Citi, adds: Its a great privilege to have been selected by Skandia Investment Group to become their core service provider. This further appointment is a strong endorsement of investor services capabilities and highlights Citis ability to serve the needs of leading investment managers on a multi-jurisdictional basis. We look forward to strengthening our long-term and successful relationship with Skandia and Old Mutual to help them achieve their growth objectives.
(CG)