Citi has won a new mandate to provide hedge fund administration services to New York-based investment adviser NWI Management (NWI).
The mandate covers private investment funds currently totalling over $3.1 billion in assets. NWI managed a total of over $4.2 billion in assets as of May 1, 2013 for funds and accounts that generally follow discretionary global macro strategies with a focus on emerging markets.
“As a premier global financial institution, Citi has been a key business partner for NWI since our inception, and we value their expertise across a wide range of asset classes,” said Hari Hariharan, chief executive officer (CEO) and chairman of NWI This new mandate builds upon that successful relationship.”
Data from S&P Global Market Intelligence suggest that the German lender is struggling to meet capital and earnings figures.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.