Citi has launched Hedge Fund Middle Office Services, a daily operational suite of applications for hedge fund managers that aims to improve efficiency and allow managers to focus on investment decision making.
“The Hedge Fund Middle Office service has been designed to improve operational efficiency and transparency for hedge fund managers by providing independent third party operations,” says Chandresh Iyer, head of global custody and investment administration services at Citi. “It can be used either on a stand-alone basis, or in conjunction with Citi’s suite of Hedge Fund Administration services,” he added.
Citi’s Hedge Fund Middle Office services include a suite of post-trade and pre-settlement services which are scalable and modular. The services are global and include technology applications that help manage daily trade processing and P&L reporting, OTC confirmation and valuation, collateral management, corporate action processing and cash management. In addition, Citi’s solution allows hedge funds to move to a more variable operational cost model – an especially attractive feature in the current cost-constrained environment. Hedge Fund Middle Office services are available to funds operating in North America, Latin America, Europe and Asia-Pacific.
With the addition of Hedge Fund Middle Office, Citi’s Global Transaction Services now offers an end-to-end hedge fund servicing platform. The solutions include administration, custody and OpenPrime, a portfolio management and order management system that is prime broker agnostic.
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