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Sagicor Life Jamaica awards Citi hedge fund services mandate

Sagicor Life Jamaica has awarded Citi a contract to provide a comprehensive suite of hedge fund services.

Citi said specifically, it will be delivering global custody, hedge fund administration and risk reporting.

Sagicor Life Jamaica vice president, investment manager Rohan Miller said following a thorough review of service providers, Sagicor selected Citi because of its holistic view of Sagicor’s business.

"Now, with Citi’s scalable solution and the portfolio of robust services it includes, we have the powerful platform that will deliver the support we need to continue our global plans," Miller said.

Through its Securities and Fund Services business, Citi’s experts provide investors worldwide with tailored solutions delivered through platforms that feature modular, open architecture.

Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world.

With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients.

As of the fourth quarter of 2010, it held on average $353bn in liability balances and $12.6 trillion in assets under custody.