NEW YORK, October 18 /CNW/ - Citi Markets & Banking today announced that
Harding, Loevner Management, L.P. has appointed it to be the service provider
for the investment advisor's retail separately managed accounts (SMA)
business. Noted within the industry for its flagship international ADR
strategy, Harding Loevner's SMA business comprises approximately 4,800 retail
accounts and represents $1.2 billion in assets under management.
"To support the accelerating growth of our SMA business, we appointed
Citi as our service provider because of its unique market experience, industry
knowledge and technological capabilities," says David Loevner, President,
Harding, Loevner Management. "Particularly important in our decision to select
Citi is its ability to deliver a single front-end trading application capable
of supporting step-out trading to our choice of broker or electronic
destinations, thereby helping us seek best execution of our trading orders.
Also, Citi's scalable trading application will allow Harding Loevner to accept
invitations into sponsor channels that we previously had to decline due to
trading efficiency or execution considerations."
"We are pleased to be able to provide Harding Loevner with the technology
and operations support it needs to enhance its competitive position in the SMA
space," says Andrew Clipper, Product Manager, Citi's Investment Administration
Services. "Harding Loevner can now focus on growing its business and serving
clients while we deliver innovative trade order generation and trade routing
support for U.S. equity and ADR trade execution. We will also assume all
back-office administrative tasks such as account suitability and set-up,
reconciliation and performance composite maintenance."
The foundation of Citi's SMA capabilities is Citi's Asset Manager
Solutions for Separately Managed Accounts, a tightly integrated end-to-end
operations platform. Asset Manager Solutions automates key functions and adds
-- Automated account opening and maintenance
-- Document imaging and archival, auto fax and workflow management
-- Portfolio manufacturing, modeling, maintenance, automated restriction
and tax management
-- Automated trade blocking and execution - including sponsor
connectivity, step outs, trade-aways and direct market access
-- Trade confirmation, allocations and settlement
-- Automated reconciliation
-- Trade order generation services for account opening, account
maintenance, and model changes
-- Electronic trade routing and best execution monitoring
-- Performance reporting, attribution, composite maintenance and
-- Electronic support for voluntary corporate actions
-- Client communications and fulfillment
-- Embedded compliance reporting and audit control
Its best-in-class services provide asset managers with a modular solution
that promotes efficiencies and reduces operating costs, ultimately improving
productivity and enhancing profitability.
About Harding, Loevner Management, L.P.
Harding Loevner is an independent, employee-owned registered investment
advisory firm founded in 1989. The firm manages $6 billion in five related
investment strategies - International (non-US) Equity, Global Equity, Emerging
Markets Equity, International Small Companies Equity, and Global Multi-Asset.
Consistent across all its strategies, the firm employs a fundamentally-based,
company-focused stock picking approach to build portfolios from the bottom-up,
comprised of the stocks of companies that are well-managed, financially sound,
possess global competitive advantages and are positioned for superior growth.
Harding Loevner is an investment advisor for a broad range of
institutional clients that include major foundations, endowments, pension
funds, public funds, and private family offices, as well as the Harding,
Loevner Funds, Inc. family of mutual funds. Additionally, Harding Loevner has
built a significant separately managed account business with leading
independent and broker-dealer sponsored wrap-fee programs. Additional
information may be found at www.hardingloevner.com.
Citi, the leading global financial services company, has some 200 million
customer accounts and does business in more than 100 countries, providing
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, and wealth management.
Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi
Smith Barney and Banamex. Additional information may be found at
www.citigroup.com or www.citi.com.
For further information:
For further information: Citi Nina Das, 212-816-9267 firstname.lastname@example.org