Citi implements $22.7 billion Victory mandate
17 August 2012 New York
Image: Shutterstock
Citi has successfully implemented a mandate to convert Victory Capital Management assets to a full range of middle office outsourcing services.
The services include trade processing, portfolio accounting and reconciliation, performance measurement, investor billing, voluntary corporate actions and investor statements for its institutional portfolios.
The agreement is on top of Citi’s existing relationship with Victory Capital Management. It has provided fund accounting, administration and transfer agency services to the Victory Funds since 1986, as well as serving as its global custodian since 2009.
Implementation of the additional modules has been completed and Victory Capital Management is live with the new solution set.
“Our selection of Citi is a testament to the strength of our partnership and their deep knowledge of our business,” said David Brown, co-CEO of Victory Capital Management. “After a thorough evaluation of service providers, we felt that Citi offered the best combination of investment operations expertise and industry-leading technology that will leave us more resources to focus on delivering superior investment performance and service to our clients.”
Chandresh Iyer, the global head of investment services and global custody for securities and fund services at Citi, said: “Building out our relationship with Victory to the middle office is a natural progression of our modular architecture across the investment process. We are pleased to deliver a solution that allows Victory to focus on their core competencies while gaining operating efficiencies and scale to support future growth.”
The services include trade processing, portfolio accounting and reconciliation, performance measurement, investor billing, voluntary corporate actions and investor statements for its institutional portfolios.
The agreement is on top of Citi’s existing relationship with Victory Capital Management. It has provided fund accounting, administration and transfer agency services to the Victory Funds since 1986, as well as serving as its global custodian since 2009.
Implementation of the additional modules has been completed and Victory Capital Management is live with the new solution set.
“Our selection of Citi is a testament to the strength of our partnership and their deep knowledge of our business,” said David Brown, co-CEO of Victory Capital Management. “After a thorough evaluation of service providers, we felt that Citi offered the best combination of investment operations expertise and industry-leading technology that will leave us more resources to focus on delivering superior investment performance and service to our clients.”
Chandresh Iyer, the global head of investment services and global custody for securities and fund services at Citi, said: “Building out our relationship with Victory to the middle office is a natural progression of our modular architecture across the investment process. We are pleased to deliver a solution that allows Victory to focus on their core competencies while gaining operating efficiencies and scale to support future growth.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
