Citi has launched Citi Distributor Services CalculationsSM, a new, automated proprietary solution to support the maintenance, calculation, payment and reconciliation of asset based commissions including trailer fees, retrocessions and rebates.
Fully integrated within Citi’s EMEA Transfer Agency, Register, Payment and Reconciliations systems, the new platform enables asset managers to achieve greater efficiency and accuracy in determining the value of commissions and processing faster payments. It also facilitates the maintenance of a consistent reporting structure from a single, consolidated platform – regardless of the domicile of funds.
Citi Distributor Services Calculations instantly processes and calculates commissions using the latest holdings recorded in Citi’s central Transfer Agency register, based on over 2 million calculation combination options that can be customized depending on the structure of relevant funds. Self-service reporting functionalities are also available, providing clients with near real-time reporting capabilities including updates on payment status and dynamic data relating to distributor agreements.
“As the asset management industry continues to adapt to an increasingly complex distribution landscape, the need for efficient and consistent trailer fee solutions continues to grow”, Pervaiz Panjwani, EMEA Head of Custody and Fund Services at Citi said. “We have leveraged the in-depth expertise of Citi’s transfer agency team, coupled with our robust in-house technology and operations platform to develop a truly innovative system for our clients.”