[ S U R V E Y
|
M U T U A L
F U N D
Citi
Up to $100 million
$100 million to $250 million
A D $250
M I N million
I S T to R $1 A billion
T I O N ]
$1 billion to $5 billion
$5 billion to $10 billion
$10 billion to $50 billion
Over $50 billion
N/A
Citi client size (AuM)
MFA overall client size (AuM)
After a year’s absence, Citi makes a welcome return to the MFA CiS client size (AuM)
MFA overall client size (AuM)
survey with an excellent set of results, scoring above the survey
average in all areas. This is all the more impressive given that its
2017 responder base is skewed towards large client sizes by AuM
compared to the global survey sample.
While there are no results to compare with on a year-on-year
basis, the bank’s scores have risen significantly since 2015. For
Distribution Support, Citi scores a perfect 7 – the highest possi-
ble score in the survey.
The largest category increase over that period is recorded for
Up to Up
$100
million
Up to Up
$100
million
Reporting, up 1.87 points to 6.40. This is an area where the bank
to $100
million
to $100
million
$100 million
to
$250
million
$100
million
to $250 million
acknowledges having devoted significant effort. “Both as a result
$100 million to $250 million
$100 million to $250 million
$250 million to $1 billion
$250 million to $1 billion
of increased regulatory filing requirements and scrutiny, as well
$250 million to $1 billion
$250 million to $1 billion
$1 billion
to $5 billion
$1 billion
to $5 billion
as the evolution of Big Data, accessibility to real-time data and
$1 billion
to
$5 billion
$1 billion
$5 billion
$5
billion
to
$10
billion
$5
billion
to to $10
billion
dynamic reporting have become paramount,” says Citi. “Clients
$5 billion
to $50
$10 billion
$5 billion to to $50
$10 billion
$10
billion
to
billion
$10
billion
billion
and industry participants alike continue to require more data,
Over $50
billion
Over $50
billion
$10 billion
to $50 billion
$10 billion
to $50 billion
more frequently, and across multiple delivery platforms driving
N/A Over $50 billion
N/A Over $50 billion
significant technology investments by 3rd party administrators.
N/A
N/A
Dynamic data management and data delivery tools are essential
in meeting the evolving needs of investment managers.”
At an individual question level, all questions relating to distri-
Citi scores by type of fund managed
MFA overall client size (AuM)
bution support capabilities receive a score of 7 as does efficiency
Equity
Non-equity
All
of call centre shareholder services especially handling volume
Relationship Management and Client Service
7.00
6.00
6.66
peaks. The lowest question score is for quality and ease of use of
client-facing technology, which nevertheless scores a more than
Value Delivered
6.78
5.50
6.18
satisfactory 5.90.
Fund Accounting And Valuation
6.94
5.50
6.60
Client comments focus largely on aspects of relationship man-
Transfer
Agency
n/a
n/a
6.57
agement and client service. “Our RM at Citi understands our busi-
Distribution Support
n/a
n/a
7.00
ness needs and is an extension of our organisation within Citi,”
notes one. “Excellent ability to manage multiple fund projects
Fund Reporting
6.89
6.50
6.40
seamlessly. Experienced, knowledgeable staff,” says another.
Compliance
7.00
n/a
6.76
Up to $100 million
In anticipation of growing service demands from ETFs, Citi has
$100 million
to $250 million
Operations
and
custody
6.65
5.60
6.19
made large scale investment in its ETF processing engine. As a
$250 million to $1 billion
result, says the bank, Citi recently secured a mandate to provide
6.88
5.82
6.55
$1 billion to $5 billion
full ETF Services including fund accounting and administration,
$5 billion to $10 billion
custody, and transfer agency for an existing ETF Issuer, covering
$10 billion to $50 billion
11 funds with approximately $1.2 billion in assets.
Over $50 billion
Citi N/A
overall scores
Citi scores versus market average
2017 2016 2015
Difference:
2015-2017
Weighted share (%) 4.26 n/a 2.04 Relationship Management and Client
Service 6.66 n/a 5.84 0.82
2017 All Difference Relationship Management and Client Service 6.66 6.28 0.38 Value Delivered 6.18 6.05 0.13 Fund Accounting And Valuation 6.60 6.42 0.18 Value delivered 6.18 n/a 5.24 0.94
Transfer Agency 6.57 6.54 0.03 Fund accounting 6.60 n/a 6.36 0.24
Distribution Support 7.00 6.14 0.86 Transfer Agency 6.57 n/a 5.45 1.12
Fund Reporting 6.40 6.22 0.18 Distribution support 7.00 n/a 6.00 1.00
Compliance 6.76 6.56 0.20 Reporting 6.40 n/a 4.53 1.87
Operations and custody 6.19 6.17 0.02 Compliance and regulation 6.76 n/a 6.74 0.02
6.55 6.30 0.25 Operations and custody 6.19 n/a 5.16 1.03
Summer 2017
globalcustodian.com
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