Citi to offer hedge fund middle office services to Veritable
Citi has secured a mandate independently owned registered investment advisor Veritable to provide a comprehensive suite of hedge fund services including middle office, fund accounting, and investor services.
Citi noted its web-based middle office monitor allows Veritable's operations and accounting staff, along with portfolio managers, to monitor trades and positions on a real-time basis through a secure website.
In addition, portfolio data is continuously updated and available to Veritable's accounting, research, risk and fund administration teams, allowing them to run customised reports and make ad hoc inquiries.
Veritable partner general counsel and chief compliance officer Charles Keates said that the company has chosen Citi based on the quality of their staff and the level of transparency their technology systems will provide them.
"Citi understood our unique business needs and their technology and service model can enable us to focus more resources on investments and servicing our investors," Keates added.
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