The Alternative Investment Fund Management Directive (AIFMD) rules affect fund remuneration practices, marketing guidelines, documentation and reporting, and the requirement for alternative investment fund managers to appoint a depositary.
Citi’s Depositary Services stands ready to assist fund managers in their compliance with the new responsibilities demanded under the AIFMD. Citi’s leading European Depositary coupled with the industry's largest proprietary sub-custody network, enables practical controls to be deployed, end to end, across the investment chain; no other depositary has operations or infrastructure to match Citi's unique service structure. As a result of this unique combination, Citi's depositary service apply the most stringent controls with minimal impact on the investment management process, thereby delivering value through minimising the costs and operational burdens presented by AIFMD.
“We have over 25 years experience offering tailored European depositary solutions and can meet the needs of all of the fund structures captured under AIFMD, including private equity, hedge, real estate and non-UCITS long funds,” says Sanjiv Sawhney, Managing Director, EMEA Head of Securities and Fund Services, Citi Securities and Fund Services. “This experience, together with our unrivalled proprietary network, provides risk efficiencies that deliver tangible benefits in terms of operational structure and risk adjusted fees.”
Citi’s AIFMD offering is available to fund managers across its 12 European centres, including Ireland, Luxembourg, Netherlands, Sweden and the UK.
Citi OpenInvestorSM is the investment services solution for today’s diversified investor that combines specialized expertise, comprehensive capabilities and the power of Citi’s global network to help clients meet performance objectives across asset classes, strategies and geographies. With $13.4 trillion in assets under custody and administration, Citi OpenInvestorSM provides institutional, alternative and wealth managers with middle office, fund services, custody, and investing and financing solutions that are focused on their specific challenges and customized to their individual needs.