Citi unveils front-to-back hedge fund solution
Investment bank Citi has launched a new full-service solution for Europe-based hedge funds.
According to Citi, the new integrated servicing solution has been introduced in response to increasing demand from clients to establish hedge funds in EU domiciles, such as Ireland and Luxembourg, and builds upon its existing front-, middle- and back-office solutions for hedge fund managers.
The solution includes prime finance, custody, middle-office support, fund administration, corporate secretarial services, distribution support, fiduciary services and compliance monitoring. Citi claims its range of capital markets and transaction services capabilities will allow it to support industry demands both for structures that operate under the European Union’s Undertakings for Collective Investments in Transferable Securities (UCITS) directive and those that do not.
“Investors are now focused on governance, risk management, independent valuation and transparency of reporting,” said Andrew Gelb, head of securities and fund services, EMEA, Citi, in a statement. “Hedge fund managers are increasingly offering UCITS and other EU domiciled fund structures to meet these needs as the industry continues to converge across the alternative and traditional fund sectors.”
Citi’s prime financing division offers a global client service covering the full range of asset classes and a suite of execution solutions.