Citi has been awarded a new mandate by Nedgroup Investments, the collective investment scheme manager with $2bn of assets under management, to provide a full range of investor services for the Nedgroup Investments Funds Plc. which recently became an authorized Irish-domiciled UCITS fund.
Nedgroup Investments Funds Plc. offers three sub-funds with specific risk return profiles; the full range covers the investment spectrum from low to high risk.
Through this expanded mandate, Citi will provide trustee, custody and fund administration services. In addition, Citi continues to provide an integrated range of investor services for the Nedgroup Investments MultiFunds Plc- also domiciled in Ireland.
"We are delighted to expand our existing relationship with Nedgroup Investments," Pat Curtin, Citi's Head of Global Fund Services, said. "This new mandate is further testament to the strength of our investor services platform and we look forward to leveraging our UCITS expertise as well as the breadth of Citi's proprietary network to support Nedgroup Investments' growth objectives and distribution needs."
Andrew Lodge, Managing Director of Nedgroup Investments (IoM) Limited, added: "As our UCITS product offering continues to grow, we are pleased to gain further efficiency by consolidating our assets with a single fund service provider. We are confident that Citi's scalable platform will help support our expansion plans while maximizing returns for our investors."
Citi Investor Services provides fund managers with access to an end-to-end set of flexible investment solutions with leading capabilities in four distinct areas: Prime Finance and Agency Securities Lending; Futures, OTC Clearing and Collateral Management; Global Custody Services and Global Fund Services.
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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About Nedgroup Investments
As part of Nedbank, one of South Africa's top four banks, Nedgroup Investments works with financial advisers to offer individual and institutional investors access to a range of offshore collective investment schemes and investment management services. Established in the Isle of Man in 1993 and licensed by the Isle of Man Financial Supervision Commission it has assets under management in excess of $2bn.
More information can be obtained from the company's website at www.nedgroupinvestments.com or by e-mailing marketing@nedgroupinvestments.com.
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