Victory Capital Management has selected Citi for a range of middle office outsourced services including trade processing, portfolio accounting and reconciliation, performance measurement, investor billing, voluntary corporate actions, and investor statements for its institutional portfolios.
The agreement is in addition to Citi’s existing relationship with Victory where it has provided fund accounting, administration and transfer agency services to the Victory Funds since 1986, as well as serving as its global custodian since 2009. Implementation of the additional modules has been completed and Victory is live with the new solution set.
“We felt Citi offered the best combination of investment operations expertise and industry-leading technology that will leave us more resources to focus on delivering superior investment performance and service to our clients,” said David Brown, co-CEO of Victory Capital Management
“Building out our relationship with Victory to the middle-office is a natural progression of our modular architecture across the investment process,” said Chandresh Iyer, global head of investment services and global custody, securities and fund services, Citi. “We are pleased to deliver a solution that allows Victory to focus on their core competencies while gaining operating efficiencies and scale to support future growth.”
Citi Transaction Services offers integrated cash management, trade and securities and fund services.