Citi Bags Minerva Capital Management Fund Services Deal

Published: 17-Sep-2009

Citi provides with independent hedge fund valuation and administration services

Citi securities and fund services, a division of Global Transaction Services, has been mandated by Minerva Capital Management, to provide a suite of administration services. For the Hong Kong-based hedge fund, Citi will directly service its fund, the Minerva Macro Fund.

Reportedly, as administrator to the Minerva Macro Fund, Citi provides with independent hedge fund valuation and administration services. Additionally, by partnering with Citi, Minerva Capital Management is also receiving transfer agency services.

Citi has said that its securities and fund services provides advice from its regional network. For Minerva Capital Management, Citi's Asia Pacific operations team in Hong Kong processes hedge fund administration services, including daily reconciliations. Under the mandate, Citi securities and funds in Singapore perform transfer agency services for the client.

David Russell, managing director, region head of securities and fund services, Asia Pacific, Citi, said: "Asia Pacific's most dynamic hedge funds are constantly evolving and see incredible value in appointing independent fund administrators. Citi, with its unmatched experience, infrastructure and dedication was a clear recipient of the flight to quality by Minerva Capital Management and we are truly proud to partner with them."

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