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Nedgroup extends Citi contract

Table mountainSouth Africa's Nedgroup Investments has expanded its contract with Citi to provide investor services to the Irish-domiciled and Ucits-compliant Nedgroup Investment Funds plc.

The fund is part of a range of Nedgroup funds with a total of $2 billion (€1.5 billion) of assets under management.

It has three sub-funds and Citi will provide trustee, custody and fund administration services.

Citi continues to provide services for the Nedgroup Investments MultiFunds Plc – also domiciled in Ireland.

Andrew Lodge, managing director of Nedgroup Investments says: "As our Ucits product offering continues to grow, we are pleased to gain further efficiency by consolidating our assets with a single fund service provider."

Nedgroup Investments is part of Nedbank, one of South Africa's top four banks.

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