TORONTO, June 13, 2012 /CNW/ - Citi has renewed an agreement with Chou
Associates Management Inc. to provide a comprehensive suite of fund
accounting, transfer agency, custody, trust and securities lending
services for $600 million in mutual fund assets.
Chou Associates Management Inc. originally became a Citi client in
2007. The current mandate renews the relationship with Citi for an
additional five years.
"The renewal of this mandate with such a respected market participant is
a compliment to the individuals on our team, who work so diligently to
ensure our level of service remains unmatched," said Gurmeet Ahluwalia,
Head of Citi's Securities and Fund Services business in Canada. "It is
also a testament to our bundled Investor Services offering, which we
are able to constantly enhance by leveraging Citi's operations around
the world, where we are in more markets than any other competitor."
More than ever, the ability of global investors and managers to meet
performance objectives relies on maximizing the efficiency of
investment operations, optimizing critical decision-making information
and implementing effectively in the markets that offer the most
Citi OpenInvestorsm custody solutions deliver coverage for 98% of the world's market
capitalization. With Citi's unique proprietary local branch network,
clients have a single platform to directly access local experts,
respond faster to market events and enhance risk management
Citi OpenInvestor is the investment services solution for today's
diversified investor, combining specialized expertise, comprehensive
capabilities and the power of Citi's global network to help clients
meet performance objectives across asset classes, strategies, and
geographies. With an on-the-ground presence in over 95 countries, Citi
offers award winning service and unmatched scale. Citi provides
complete investment services for institutional, alternative, and wealth
managers delivering middle office, fund services, custody, investing
and financing solutions focused on clients' specific challenges,
customized to their individual needs.
Citi Transaction Services, a division of Citi's Institutional Clients
Group, offers integrated cash management, trade, and securities and
fund services to multinational corporations, financial institutions and
public sector organizations around the world. With a network that spans
more than 95 countries, Transaction Services supports over 65,000
clients. As of the first quarter of 2012, it held on average $377
billion in liability balances and $13 trillion in assets under custody.
Citi, the leading global bank, has approximately 200 million customer
accounts and does business in more than 160 countries and
jurisdictions. Citi provides 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, transaction services, and wealth
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About Chou Associates Management Inc.
Chou Associates Management Inc. is the investment counsel and trustee
for the family of Chou Funds. These include:
Chou Associates Fund
Chou RRSP Fund
Chou Bond Fund
Chou Asia Fund
Chou Europe Fund
Chou Funds can be purchased by all investors through dealers and brokers
Due to our limited market dealer registration, you must be an 'accredited investor' in order to purchase from us directly.
For further information: