Mackenzie appoints Citi to provide securities services
05 June 2013
News, Asia, Global, Singapore
By Asia Asset Management
Citi has been appointed by Mackenzie Investments (Mackenzie Singapore) to provide a complete suite of fund administration, middle office, collateral management and transfer agent services in support of its portfolio advisory and fund management activities in Asia, it announced on Tuesday (June 4). The mandate marks the beginning of a long-term collaboration between Mackenzie Singapore and Citi in Asia.
“As this is our first foray into direct portfolio advisory activities in Asia, outsourcing our middle office to Citi is a clear choice as Citi has a robust fund services platform in place, which can fully support our credit and macro investment strategy. We look forward to leveraging Citi’s full suite of fund services and expertise to expand our investment operations in Asia,” said Venkat Kannan, chief administrative officer, Mackenzie Singapore.
“We are honoured to be selected by Mackenzie Singapore to support their portfolio advisory expansion to Asia,” said David Russell, Asia Pacific head of securities and fund services, Citi. “As global fund managers continue to expand their businesses in Asia, Citi is uniquely positioned with a strong local presence and a comprehensive range of information delivery and reporting technology and investment services solutions that let fund managers focus on building relationships and growing their business.”
Mackenzie Singapore will leverage Citi’s recently launched OpenAi platform, which is built on an integrated data management model. OpenAi connects clients’ trading platforms to Citi’s processing systems, third-party providers, prime brokers and market data sources, and gives them direct access to operational workflow throughout the service lifecycle.
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