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Investor Relations data insights: Individual Additional Subscriptions rise year-on-year

April 2024

11 April 2024 - In 2023, the Citco group of companies (Citco) saw the value of Additional Subscriptions from Individuals to products administered by Citco increase year-on-year, despite an overall drop in subscription levels.

The total value of Additional Subscriptions from Individuals increased by 13% year-on-year, bucking the trend seen from other investor types. Overall, the value of Additional Subscriptions was down 30% in 2023 on the previous year. The value of Initial Subscriptions also fell 30% overall, with the number of Initial Subscriptions across Custodians, Individuals and Trusts – which covered the majority of subscriptions – falling by 35% on average. Some areas bucked this trend, with Limited Liability Companies (LLCs) seeing a 20% increase in the value of Initial Subscriptions, for example.

Meanwhile, the value of Redemptions overall was in line with the previous year, even though redemption orders climbed 20%, as redemption sizes were smaller. There was no significant increase in the volume of trades seen in 2023 versus previous years, with the increase in redemption activity offset by decreases in Initial and Additional Subscriptions.

To make the subscription and redemption process as straightforward as possible for clients, Citco constantly invests in the digitalization of its proposition, in particular driving the industry towards a more digital experience.

CitcoConnect™ facilitates investor submissions of Initial Subscriptions and Capital Commitment applications through an efficient online process. Having initially launched in 2018, CitcoConnect has undergone a number of key enhancements aimed at optimizing the experience for fund managers and prospective investors alike in recent years – forming a key part of the digital transformation of Citco’s services. In Q4 last year, Citco released a significant upgrade to CitcoConnect by introducing innovative features designed to streamline the capital raising and subscription process and enhance clients’ user experience.

Emer McGuckin, Managing Director, Citco Investor Relations, Citco (Canada) Inc., said: “Investors continued to use Citco to facilitate their investment activity throughout 2023 and, in turn, Citco continued to enhance our service to clients.

“Activity levels will naturally fluctuate every year as investors react to constantly evolving markets, and it is our job to provide them with the easiest possible way to invest in alternatives. We are committed to continuing to deliver the best technology and service to all our clients in future.”

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