Citi has been awarded a contract renewal that also includes an extension of its fund services to Victory Capital Management and to the Victory Funds. Specifically, Citi will continue to provide sub-administration and sub-fund accounting to Victory Capital Management and transfer agency support services to the Victory Funds. As an extension of the mandate, Citi will now serve as Global Custodian to the Victory Funds.
This recent alignment strengthens a long-standing collaboration among the firms.
As the asset manager and its funds have grown and their requirements have expanded, Citi has delivered an increasingly broader suite of fund services to support the firms investment strategy.
Over the course of our association, we have developed an extraordinarily strong working relationship with Citi, says David Brown, chief operating officer of Victory Capital Management. Citi has consistently provided us with fund solutions to match our specific needs, delivered with an excellent level of service, for the benefit of our firm and, more importantly, our funds shareholders.
In addition to its integrated suite of end-to-end fund solutions for asset managers, Citis Investor Services include investment administration for institutional, high net worth and separately managed accounts, as well as local and global custody and securities finance.
“Our goal is to partner with our clients in a way that best leverages Citi’s enterprise strength to increase efficiencies across the lifecycle of an asset. As the investment industry evolves, we have the modularity of offerings, flexibility of choice and the capabilities to support new and established investment products to a wide-ranging global client base,” says Citi’s Sahai.
Through its Securities and Fund Services business, Citi provides institutions worldwide investors, intermediaries and issuers with an unparalleled portfolio of offerings that enable them to grow, reduce cost and mitigate risk. With over $11 trillion of assets under custody and the industry’s largest proprietary network, clients can also leverage Citi’s strength in capital markets to extract value across the entire investment value chain.
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the third quarter of 2009, it held on average $314 billion in liability balances and $11.8 trillion in assets under custody
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