Citi has renewed a mandate with Chou Associates Management to provide fund accounting, transfer agency, custody, trust and securities lending services for $600 million in mutual fund assets.
The extension builds on an agreement in 2007 when Toronto-based Chou Associates Management originally became a Citi client. The current mandate renews the relationship with Citi for an additional five years.
“The renewal of this mandate with such a respected market participant is a compliment to the individuals on our team, who work so diligently to ensure our level of service remains unmatched,” said Gurmeet Ahluwalia, head of Citi’s Securities and Fund Services business in Canada. “It is also a testament to our bundled Investor Services offering, which we are able to constantly enhance by leveraging Citi’s operations around the world, where we are in more markets than any other competitor.”
Chou Associates Management is the investment counsel and trustee for the family of Chou Funds.
(JDC)