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Citi wins custody and fund administration mandate

Citi_buildingCiti has been selected by investment manager Polunin Capital Partners to provide global custody, fund administration and depositary services for its Luxembourg-domiciled Sicav funds.

The new mandate, which comprises Polunin’s developing countries and emerging markets small-cap Ucits sub-funds, builds on the existing relationship between Citi and Polunin through which Citi provides global custody for Polunin’s US-domiciled funds.

“We look forward to leveraging our extensive custody and clearing network to help Polunin grow their Sicav business and provide them with a consistent experience across multiple jurisdictions,” said Jervis Smith, Citi’s head of investor services.

Citi has had a presence in Luxembourg since 1970 and currently employs 150 people locally.

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