Skandia picks Citi as sole FA
08 November 2011 London
Image: Shutterstock
Skandia Investment Group has announced Citi will be its sole third party administrator in a bid to cut fund administration costs.
The move will bring together the asset manager's Dublin-based and other range of funds onto a common platform. In addition, the company points to UCITS IV requirements as being a driver of the shift to a single third party administrator.
Skandia's COO Marc Bulstrode said, “The move to a single administrator is an important milestone in [Skandia’s] development as it enables us to benefit from a single operating platform in serving our business that enables consistency in our risk and control governance regime and enhance our Investor experience with products in multiple jurisdictions."
The move will bring together the asset manager's Dublin-based and other range of funds onto a common platform. In addition, the company points to UCITS IV requirements as being a driver of the shift to a single third party administrator.
Skandia's COO Marc Bulstrode said, “The move to a single administrator is an important milestone in [Skandia’s] development as it enables us to benefit from a single operating platform in serving our business that enables consistency in our risk and control governance regime and enhance our Investor experience with products in multiple jurisdictions."
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