An article published on GC.com on 20 April suggested that the formation by Citco of a new entity, Citco Financial Products (CFP), meant the bank would be competing with prime brokers to finance hedge funds. Citco has asked us to point out that CFP will in no way compete with prime brokers. CFP is neither part of Citco Fund Services (the hedge fund administrator) nor part of Citco Bank (the custodian arm of the bank), nor part of Citco Trust. Rather, it is an entirely new entity within the Citco Group, whose aim is to offer financial services to hedge fund investors such as funds of funds and family offices, but it does not offer financing to hedge funds and therefore does not compete with prime brokers. We apologise to Citco and its clients for any confusion this news item caused.
CORRECTION: Citco Financial Products Article Of 20 April
An article published on GC.com on 20 April suggested that the formation by Citco of a new entity, Citco Financial Products (CFP), meant the bank would be competing with prime brokers to finance hedge funds
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