*Citi's global transaction services unit has launched a global
technology platform specifically designed for servicing funds of hedge
funds.*
The new service, which integrates into Citi's global operating
platform for hedge fund services, enables Citi to provide a suite of
fund of hedge fund solutions through a single front-to-back online
service.
"For the benefit of servicing fund of hedge fund managers around the
world, we have pulled together the entire client experience under one
seamlessly integrated, globally consistent platform," says Neeraj
Sahai, global head of securities and fund services, Citi. "Managers
have direct, on-line access to our custody services, our suite of
middle-office solutions and all standard administrative reports,
resulting in greatly improved efficiency, accuracy, transparency and
risk mitigation."
Citi's fund of hedge fund services product suite offers clients a
modular end-to-end solution, supporting the entire trade lifecycle:
middle office, custody, securities finance, back office, cash and
liquidity.
The new technology platform delivers the following types of customised
tools for portfolio managers:
• Analysis of liquidity terms of underlying hedge fund investments
• Ability to track and analyse underlying fund performance
• "What-if" trade scenario analysis
• Pre and post trade compliance reporting against investment
guidelines
• Real-time dynamic NAV reporting
• Automated FX hedging functionality for share classes denominated
in non-base foreign currency
Citi entered into an agreement with youDevise to license the platform.
youDevise is the developer of an online platform used by fund of hedge
funds and administrators for front, middle and back office management
information.
Source: Hedgeweek.com
