Latest initiatives and updates - Spring 2014

Citco is always improving its suite of regulatory, operational and reporting tools for clients.


Citco assists managers (AIFMs) in complying with the regulatory requirements imposed by AIFMD.

Citco Custody meets the eligibility criteria under AIFMD to act as a depositary in the main EU fund domiciles, such as Ireland, Luxembourg and Malta. Citco Custody, together with Citco Funds Services, is able to provide all relevant depositary-lite services to non-EEA AIFs using its proprietary technology and established SSAE 16 Type 2 compliant processes and procedures. Citco meets the criteria to act as external valuer and will undertake the valuation function on behalf of an AIFM for agreed asset classes. Citco’s dedicated, specialist regulatory reporting team has developed a service offering which complements its existing Form PF and Form PQR offerings.

Middle Office Services

Citco’s Middle Office services include affirmation/confirmation of trade details through vendor applications such as DTCC, Omgeo, Misys, Swapswire and Markit.

We also offer a collateral management service that includes the maintenance of CSA static data through an outside vendor called Algorithmics.

Citco’s collateral team will facilitate daily issuance of margin and collateral calls as well facilitate break resolutions.

Our treasury management service uses the proprietary Æxeo Payment System to maintain wire instructions and pulls in daily cash flows for OTC instruments.

The team also works with counterparties on fails, overpayments, or underpayments. All wires go through an approval process that includes Citco and client staff.


Citco fund of hedge fund clients can view up-to-date portfolio information with latest pricing, asset allocation breakdown, liquidity projection, cash management, trade scenario analysis, trade instruction and pre- and post-trade portfolio compliance monitoring.

Citco’s Enhanced Administration offering for Hedge Fund Investors provides the Æximo™ software platform on the client desktop. The platform encompasses many areas of our clients’ day-to-day operations and reporting into a single robust platform delivered by Citco.

This enhances our offering from the traditional month-end reporting to a more real-time daily service.


Citco’s comprehensive FATCA service includes a dedicated team of professionals working as clients’ designated “Responsible Officer” on the key parts of the FATCA Compliance program.

 In addition to providing a detailed analysis of the data required to comply with the requirements, we use a proprietary FATCA logic tool developed to provide clients with a FATCA Readiness Assessment Report. The report comprises legal entity classification, investor classification and gap analysis.

Our recent partnership with the Comply Information Exchange platform also facilitates the on-line submission of appropriate information and enables straightforward completion of the new IRS forms W-8 and W-9 for investors.

Private Equity & Real Estate SPV Services

Citco’s Private Equity Fund Services group offers fund accounting and administration, investor relations, tax and audit liaison, SPV administration and corporate secretarial services.

The group offers private equity managers the opportunity to get back to their core competencies by leveraging Citco’s extensive global network of private equity professionals and Citco’s investment in private equity technology solutions and administrative process controls.

Citco’s industry leading approach is tailored to address the needs of the private equity industry and offers an outstanding range of private equity fund administration services to GPs, LPs and SPVs. All these services are provided in-house and are managed through a single point of contact.

Mutual Fund Services

Citco Mutual Fund Services’ solution guides managers through the process of creating and managing US registered products while maintaining a single point of contact for all client service needs.

The full suite of products and services are tailored to meet specific client needs utilizing best of breed technology and management tools.

Our services include: fund administration, fund accounting, distribution, principal financial officer, custody, series trust, transfer agent, chief compliance officer and series or stand alone trust.

Financial Statement Reporting and Regulatory Reporting

Citco’s financial reporting and regulatory services are performed by licensed and certified accountants with experience in asset management, and by financial and regulatory reporting specialists with pertinent industry experience.

Citco prepares funds’ annual, quarterly, and/or monthly unaudited financial statements in conformity with the accounting standards adopted by the fund (US GAAP / IFRS) and organizes and prepares financial information required for regulatory filings. The team is currently producing 2,500+ financial statements per annum. Citco’s regulatory reporting service offerings are scalable for investment managers regardless of their size, complexity, and strategy.

27th February 2014

Our contacts

Mark Sweeney

Mark Sweeney

Managing Director, Citco Custody Ltd.

T+353 86 7741431