Citi will provide hedge fund middle office services to Spartus Capital Management – a new divergent volatility strategies hedge fund. Citi was chosen following a competitive tendering process involving multiple providers.
“Citi’s expertise and middle office technology have been instrumental in supporting the launch of our new fund,” said John Liu, CIO, Spartus Capital Management LP. “With Citi providing our middle office services we can focus more of our management time on generating alpha and serving our investors.”
Citi’s middle office platform provides a modular solution with wide access to data, addressing a wide range of needs relating to post-trade workflow. Built on an integrated data management model, it supports front office activities with a complete set of capabilities including the ability to monitor trades and positions through a secure website.
BNY Mellon has been appointed to provide custody and investment administration solutions for NOW: Pensions’ new UK defined contribution workplace pension.
NOW: Pensions is the UK-based multi-employer trust established in November 2011. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP (Arbejdsmarkedets Tillgspension), Denmark’s largest pension fund and the administration is carried out by Paymaster, an established UK third party administrator.
Morten Nilsson, chief executive of NOW: Pensions said: “Efficient custody and investment administration solutions are key elements which enable us to offer a cost-effective solution to our members. BNY Mellon has supported ATP’s offering in Denmark since 2007 and we look forward to working with the company on our UK solution.”
(JDC)