Excel Funds has reappointed Citi as its transfer agent and to provide fund valuation for its Canadian mutual funds. The new expanded mandate also includes global custody.
Excel, which is Canada's only emerging markets-focused mutual fund provider, initially appointed Citi in 2005.
"In the time we have partnered with Citi, they have proven their commitment to our business," says Bhim Asdhir, president and CEO of Excel Funds. "Given our desire to further expand our offering into new markets, we have also enlisted them to manage our custody services globally. Citi's global reach and commitment to service provides the flexibility that meets our growing needs, and those of our dealers and investors."
Gurmeet Singh Ahluwalia, head of Citi Securities and Fund Services in Canada, adds: "Excel's decision to expand this partnership validates the significant investment Citi has made, and continues to make, in providing the industry's leading services."