Citi has completed the implementation of Man Umbrella Sicav, the Luxembourg fund business of the Man Group.
Citi will provide an integrated range of services that includes custody, depositary bank, fund administration and transfer agency services.
Man is an alternative investment management business with over USD52.7bn under management.
Man appointed Citi to provide its global shareholder services in March 2011 and this new mandate builds on the success of the collaboration between the two institutions.
"Citi’s deep understanding of Man’s business as well as its proven track record of service delivery were decisive factors in our decision to select Citi for this mandate,” says Simon White, global operations head of Man Group. “We are confident that the end-to end solution provided by Citi will bring the optimal level of efficiency and transparency to our investors.”
“We are very pleased to be able to expand our services to one of the most respected names in the industry,” says Sanjiv Sawhney, EMEA head of securities and fund services, Citi. "This mandate is further evidence that Citi is well positioned in Luxembourg to provide a comprehensive solution Man's SICAV business and we look forward to helping them grow their Luxembourg SICAV business.”