Skandia is consolidating its fund ranges under a common administration platform provided by Citi in an effort to increase efficiency and ensure regulatory compliance.
Citi already provides cash management, transfer agency services and foreign exchange for Dublin-based Skandia Global Funds. It will now also manage fund factsheets and the disclosure of Key Investor Information Documents (KIIDs).
The deal also includes custody and transfer agency services, fund administration, fund factsheets and foreign exchange for UK-based fund, Skandia Investment Management.
Marc Bulstrode, chief operating officer at Skandia Investment Group, said the move to a single administrator was “an important milestone” in the company's development.
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