UK-based emerging markets hedge fund manager Adelante Asset Management has appointed Citigroup to provide prime brokerage, fund accounting and transfer agency services for its Cayman-domiciled Emerging Debt and Equities funds.
Chris Sherlock, COO, Adelante said: “We see Citi as a partner able to provide Adelante with front to back support across the globe.”
Sanjiv Sawhney, global head of Fund Services, Citi Transaction Services added: “With a global footprint and a leading platform in emerging markets, Citi can leverage the breadth of its product offering among its Prime Finance and Securities and Fund Services divisions to assist emerging markets hedge fund managers and support their growth strategies across various asset classes and geographies.”
Separately, Societe Generale Securities Services has been mandated by Banque Federale Mutualiste to provide it with global custody.
SGSs will provide fiscal services, notably processes relating to applying reduced rates of tax at source and tax exemptions, tax claw-backs, the management of fiscal documents, regulatory reporting for the tax authorities and tax reports for clients.
BFM was founded in 1986 on the initiative of public sector mutual insurers. It has 27 mutual insurance members and provides preferential banking services to civil servants (900,000 customers).
SKY Harbor Global Funds, a Luxembourg registered UCITS IV investment company has chosen J.P. Morgan Worldwide Securities Services (WSS) to provide global custody, transfer agency, fund administration and fund accounting for SKY Harbors newly launched US High Yield and US Short Duration High Yield sub-funds.
SKY Harbor Capital Management, the investment advisor for the sub-funds, is a high yield fixed income specialist based in Greenwich, Connecticut. The sub funds will be registered in various European countries with a range of currency-hedged classes available for institutional investors.
We are delighted about the opportunity to support SKY Harbor, especially as they gain market share and build their brand around the world, said Robert Caporale, head of new business development Americas, J.P. Morgan WSS. Working with SKY Harbor allows us to leverage our global platform and deliver first class service to their investors, which is our top priority.
(JDC)