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Citi appointed trustee and custodian of Close’s discretionary funds


Citi Global Transaction Services has been appointed trustee and custodian of Close Asset Management UK’s discretionary funds.

The new funds comprise an umbrella unit trust with five sub-funds and were launched with GBP870m assets under management.

The appointment builds on Citi’s existing relationship with Close covering ten funds and total assets under management of over GBP1bn.
The new launches also further strengthen the consolidation made by Close in 2009 to appoint Citi as sole trustee and custodian to its UK authorised funds business.

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