Citi has been appointed by Kames Capital to provide depositary services for its UK fund range, representing approximately £ 7bn in assets.
Kames Capital is a UK-based investment management business that is part of Aegon Asset Management, managing £42.5 billion on behalf of UK and international clients, including pension funds, financial institutions, charities, wealth managers, family offices and individuals.
The mandate expands the existing strategic relationship between Aegon and Citi across a wide range of products and solutions including depositary services across Kames Capital’s Ireland and Netherlands fund ranges, as well as fund accounting, middle office, custody and agency securities lending services.
“We are delighted to have won this mandate from Kames Capital and further extend our relationship with such an important strategic partner,” David Morrison, Global Head of Trustee & Depositary Services at Citi, said. “We value the trust they place in us, not only for depositary services, but also across the wide range of services used within our Prime, Futures and Securities Services franchise.”
Ross Bradley, Head of Investment Support Europe for Aegon Asset Management noted: “The move to a single provider for depositary services is an important milestone for Kames Capital and our clients. It allows us to benefit from Citi’s leading platform and achieve greater consistency in our operating model while enhancing the investor experience across all of our EU funds.”
With over $21.3 trillion of assets under custody and administration1 and the industry-leading proprietary network spanning over 60 markets Citi’s Custody and Funds Services business provides clients with in-depth local market expertise, advanced processing technologies and a wide range of fund services that can be tailored to meet clients’ needs.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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1 Q3 2018