Money Management Executive
European Fund Administrator Enters U.S.
June 15, 2001, 1:00 a.m. EDT 1 Min Read
The Citco Group Limited, an international financial services company headquartered in Amsterdam, the Netherlands, announced today that it entered into a joint venture with JKP Partners of Valley Forge, Pa. to provide transfer agency, fund accounting, administration, legal and compliance services to U.S.-based mutual fund companies.
The new company will be named CITCO-Quaker Fund Services and will begin operations July 1, according to Citgo. Citco currently provides the back office administrative and operating services for 600 offshore funds domiciled overseas, as well as several prominent hedge funds.
JKP Partners is a partnership created to form the new firm, according to Citgo. The partnership has an affiliation with Quaker Management Corp. also of Valley Forge, Pa., which is the adviser to the Quaker Investment Trust, a group of eight mutual funds with about $145 million under assets.
CITCO-Quaker Fund Services will take over the back office administrative servicing for its first mutual fund client, the Quaker Investment Trusts funds, on July 2 said a spokesperson for the new company.
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Money Management Executive
