The City of Zurich Pension Fund has chosen Citco to provide administration, custody and related financial services to its $1.3 billion hedge fund portfolios.
The mandate follows a series of other key wins from institutional investors, driven by demand for customised portfolios.
William Keunen, global director of Citco Fund Services, said: “Citco’s recent decision to exit the sub-custody business for financial institutions was driven by the commoditisation of the business and the lack of ancillary services attached to it.”
“We intend to now focus fully on servicing our institutional investor clients with our integrated solution.”
Earlier in the year Baloise Group strengthened its long-standing relationship with Citco by deploying the ÆXIMO technology for outsourced middle-office operations.
It allows investors full portfolio planning and dealing, including liquidity reporting, asset allocation breakdown, compliance checks and performance reporting.
Florian Albrecht from Baloise Asset Management said: “We were impressed by the functionality offered by Citco’s ÆXIMO technology which is backed by a highly competent IT development team.”
Citco’s Alternative Investor Services group focuses on servicing key fund investor clients such as fund of hedge funds, pensions, endowments, family offices, insurance companies and other institutional investors.
