Citigroups Global Transaction Services business has been appointed by AEGON Asset Management to provide fund administration services to a newly launched Global Opportunities Fund.
Citi will provide accounting, administration, transfer agency, custody, trustee, compliance, cash management and FX services for the Irish domiciled fund.
In 2005 AEGON Asset Management UK transferred fund accounting and administration functions to Citigroup Global Transactions Services, based in Edinburgh.
AEGON Asset Management Head of European Distribution Martin Harris says, We selected Citi for its global operations platform and established regional presence as the servicing arm for the new Irish domiciled Global Opportunities Fund. This fund is strategically important to AEGON Asset Management as it provides institutional and professional retail investors with competitive absolute returns from a diversified global portfolio.
Andrew Gelb, Head of Securities and Fund Services for Europe, the Middle East and Africa, Citi, said, This new agreement demonstrates Citis ability to partner with our clients to manufacture complex fund products and to distribute those products through our global distributor support model.
The fund will have a discretionary global macro strategy investing in derivative and non-derivative assets.