Citi introduces innovative trailer fee solution
11 October 2018 London
Image: Shutterstock
Citi has introduced a new innovative trailer fee solution called Citi Distributor Services Calculations.
The automated proprietary solution is designed to support the maintenance, calculation, payment and reconciliation of asset based commissions including trailer fees, retrocessions, and rebates.
Additionally, the solution is fully integrated within Citi’s Europe, the Middle East and Africa (EMEA) transfer agency, register, payment and reconciliations systems.
According to Citi, the new platform enables asset managers to achieve greater efficiency and accuracy in determining the value of commissions and processing faster payments.
It also facilitates the maintenance of a consistent reporting structure from a single, consolidated platform regardless of the domicile of funds, Citi revealed.
Pervaiz Panjwani, EMEA head of custody and fund services at Citi, commented: “As the asset management industry continues to adapt to an increasingly complex distribution landscape, the need for efficient and consistent trailer fee solutions continues to grow.”
Panjwani added: “We have leveraged the in-depth expertise of Citi’s transfer agency team, coupled with our robust in-house technology and operations platform to develop a truly innovative system for our clients.”
The automated proprietary solution is designed to support the maintenance, calculation, payment and reconciliation of asset based commissions including trailer fees, retrocessions, and rebates.
Additionally, the solution is fully integrated within Citi’s Europe, the Middle East and Africa (EMEA) transfer agency, register, payment and reconciliations systems.
According to Citi, the new platform enables asset managers to achieve greater efficiency and accuracy in determining the value of commissions and processing faster payments.
It also facilitates the maintenance of a consistent reporting structure from a single, consolidated platform regardless of the domicile of funds, Citi revealed.
Pervaiz Panjwani, EMEA head of custody and fund services at Citi, commented: “As the asset management industry continues to adapt to an increasingly complex distribution landscape, the need for efficient and consistent trailer fee solutions continues to grow.”
Panjwani added: “We have leveraged the in-depth expertise of Citi’s transfer agency team, coupled with our robust in-house technology and operations platform to develop a truly innovative system for our clients.”
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