Citigroup GTS Wins Custody of Man Investments' "Style Fund"
Citigroup Global Transaction Services has announced that it has been selected as Custodian to Man Investments’ $7.8bn “style fund” structure. The style funds are one of Man’s principal Fund of hedge fund structures against which a significant amount of Man Investments’ alternative investment products are applied. The fund of hedge fund custody business is a natural extension for the alternative investment administration solution set, which was launched by Citigroup’s Fund Services in 2004 following the acquisition of Forum Financial at the end of 2003. Forum’s technology and products have been fully integrated into Citigroup Global Transaction Services’ standard systems, initially operating through Citigroup’s Portland, Maine and Bermuda facilities, and recently rolled out in the European marketplace through Citigroup’s operations centre in Dublin.