CITI LAUNCHES GOVERNANCE PORTAL FOR MUTUAL FUNDS

Performance Funds Signs-On To Utilize Free Service

New York - June 03, 2009 – Citi today announced the launch of the Fund Governance Portal (FGP), providing its mutual fund servicing clients real-time access to data, critical documents and links that are essential to managing a fund’s business. The portal is a free service for Citi’s clients and is available on a secure, password-protected site that is accessible 24/7 from any web-enabled computer.

Citi’s Global Transaction Services is providing this service for its mutual fund clients who utilize its regulatory administration services. The Fund Governance Portal was created in response to clients who sought easier access to fund information and data for their boards of directors, legal personnel, compliance officers, and other associates with fund administration responsibilities.

The Performance Funds, advised by Trustmark Investment Advisors, Inc., is using the service. Duane Dewey, Executive Vice President of Corporate Banking and Wealth Management at Trustmark National Bank, said, "I applaud Citi on introducing the Fund Governance Portal. It provides enhanced efficiencies through technology that will enable our team to access, review and share current and past documents. And the security features allow for the safe retrieval and downloading of materials without compromising sensitive information." Key benefits of the service include the ease of navigation, information access and speed in document sharing of time-sensitive items.

Citi’s FGP was built using leading industry software and surround technology for speed and efficiency. "We are pleased to be able to offer this service to our clients and have ensured that it is secure, having completed a full vulnerability assessment prior to its launch," said Bruce Treff, Managing Director of Regulatory Administration and Compliance Services for Citi’s North America Fund Services group. "The front-end client interface is user-friendly and intuitive, which is one reason we’ve had such positive feedback."

Treff continued, "FGP is currently designed for US asset managers of registered ’40 Act mutual funds. However, we would certainly leverage this tool for the alternative space should regulatory requirements become mandated for such instruments."

The five key components of Citi’s Fund Governance Portal include:

  • Fund Fact Database - for need-to-know factoids at a glance, such as date of incorporation, board member contact information and the like
  • Headline News Update - current information and links to evolving laws, regulations and industry positions
  • File Exchange Site - a drop-off and pick-up site for secure file-sharing of mega-sized documents
  • Fund File Repository - an online filing cabinet to house charters, by-laws, minutes, board books, and other core documentation needed on a daily basis
  • Direct linkage to the SEC website for client specific information and filings

Given current economic conditions, the entire investment management industry is under pressure, resulting in the need for solutions that help investment managers improve their operational efficiency. Citi continues to develop innovative solutions such as the Fund Governance Portal for its clients and their boards of directors to help meet the challenges of a fast-moving regulatory environment and the associated demands of heightened oversight responsibilities.

Global Transaction Services, a division of Citi’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, Citi’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2009, it held on average $278 billion in liability balances and $10.3 trillion in assets under custody.

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About Performance Funds
The Performance Funds include eight diverse mutual funds: four equity, two fixed income and two money market funds. The funds are managed by Trustmark Investment Advisors, Inc. Trustmark Investment Advisors currently manages more than $3.1 billion in assets for individuals, families, institutions and foundations (as of March 31, 2009). As a wholly-owned subsidiary of Trustmark National Bank, it is guided by sound, conservative investment principles that have helped identify promising investments throughout a variety of market climates. Additional information may be found at www.performancefunds.com.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, 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, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.