Citi’s global transaction services unit has launched a global technology platform specifically designed for servicing funds of hedge funds.
The new service, which integrates into Citi’s global operating platform for hedge fund services, enables Citi to provide a suite of fund of hedge fund solutions through a single front-to-back online service.
“For the benefit of servicing fund of hedge fund managers around the world, we have pulled together the entire client experience under one seamlessly integrated, globally consistent platform,” says Neeraj Sahai, global head of securities and fund services, Citi. “Managers have direct, on-line access to our custody services, our suite of middle-office solutions and all standard administrative reports, resulting in greatly improved efficiency, accuracy, transparency and risk mitigation.”
Citi’s fund of hedge fund services product suite offers clients a modular end-to-end solution, supporting the entire trade lifecycle: middle office, custody, securities finance, back office, cash and liquidity.
The new technology platform delivers the following types of customised tools for portfolio managers:
• Analysis of liquidity terms of underlying hedge fund investments
• Ability to track and analyse underlying fund performance
• “What-if” trade scenario analysis
• Pre and post trade compliance reporting against investment guidelines
• Real-time dynamic NAV reporting
• Automated FX hedging functionality for share classes denominated in non-base foreign currency
Citi entered into an agreement with youDevise to license the platform. youDevise is the developer of an online platform used by fund of hedge funds and administrators for front, middle and back office management information.