CITI RECEIVES TOP RANKINGS IN GLOBAL CUSTODIAN’S 2010 MUTUAL FUND ADMINISTRATION SURVEY
"Top Rated": Globally, Asia Pacific and North America
New York - July 20, 2010 – Citi’s Global Transaction Services today announced that its Investor Services clients have voted the company among the "Top Rated" mutual fund service providers in the world in Global Custodian magazine’s 2010 Mutual Fund Administration Survey.
Citi was Top Rated for its overall global performance and for service and expertise in North America and Asia Pacific. Asia Pacific also ranked number one in the regional "League Tables". Asset classes that earned top ratings include Fixed Income, Fund of Funds, Multi-Provider, Other Funds and funds with assets under management from $1 to $5 billion and over $5 billion. Citi achieved "Commended" status in the four remaining categories.
Ratings are supplemented with Best in Class Awards. According to the survey’s methodology overview, "Providers are awarded Best in Class awards, which aim to recognize excellence in servicing clients of different sizes, types and locations." Citi received a total of 60 such Best in Class awards.
"If Citi is aiming to convince fund managers of the benefits of a one-stop shop for fund accounting, transfer agency and custody," reported Global Custodian in its coverage of the 2010 survey results, "it has succeeded."
"We are pleased with our showing in this year’s Global Custodian survey," says Sanjiv Sawhney, Global Head of Fund Services, Citi. "More importantly, we are grateful to know that our clients approve of the job we’re doing. The real value of this survey is gaining insight into our clients’ day-to-day experience with our associates across the wide range of mutual fund services, asset types, and regions we support. This year’s results affirm our commitment to the business." Added Sawhney, "We will continue to invest deeply in talent, technology and innovation."
Among the accolades Citi received from clients that responded to the survey:
- "Good value and effective service as Citi can combine the depositary service with the custody and third-party administration."
- "The ability of Citi on the global custody level is extremely effective and means we are quick to market where needs arise. The network is very robust and, with a high level of automation, effective."
- "Strong leadership values that are widely understood and, more importantly, practiced by management."
- "Great management team with long tenure."
- "Consistency and good support from staff and systems."
Global Custodian’s Mutual Fund Administration Survey, now in its ninth year, evaluates the performance of fund administrators with each other and within individual markets. The findings are based entirely on reports from clients on the performance of their service providers.
Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.
Global Transaction Services, a division of Citigroup’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the first half of 2010, it held on average $320 billion in liability balances and $11.3 trillion in assets under custody.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.