Federated Investors Expands Citi’s Mandate for SMAs

Federated Investors has expanded its contract for use of OpenSMA and CitiConnect, Citi’s platforms serving separately managed accounts (SMA) investment managers. As part of this expansion, Citi will support Clover Investment Advisors, a Federated subsidiary. Clover provides managed accounts to leading sponsors and distributors through various equity and balanced portfolios. Citi has been delivering SMA services to Federated since 2006.

“We have been very pleased with the quality of service Citi has provided for our SMA business, which is a key product line of our firm,” said Anne Kruczek, head of investment management administration and operations, Federated Investors. “In addition to the level of service, we continue to be impressed with the leading-edge capabilities of Citi’s OpenSMA offering and intend to migrate Clover’s SMA business to OpenSMA. We are particularly enthusiastic about the efficiencies of the OpenSMA fixed income application as it relates to expanding the flexibility of our balanced offering. Through its characteristic-based modelling features, we can expand our ability to support balanced SMAs in a more automated fashion and without increasing portfolio management staff.”


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