Citi said it has been awarded a contract renewal of its fund services to Victory Capital Management and to the Victory Funds.

Cleveland-based Victory Capital managed $22.7 billion in investment portfolios as of April 30, including the Victory Funds, a family of more than 20 mutual funds.

“As our fund business and portfolios have grown, our servicing requirements have expanded and become more complex,” stated David Brown, co-chief executive officer of Victory Capital Management. “Citi has delivered an increasingly broader suite of services – the right solutions at the right time – to support our investment strategy.”

Citi Transaction Services held some $13 trillion in assets under as of Q1.