Citi named global custodian for Polunin’s Luxembourg UCITS funds

Citi has been chosen by Polunin Capital Partners to provide global custody and fund administration services for its Luxembourg-domiciled UCITS funds. 

The mandate is an extension of Polunin’s existing relationship with Citi, which provides globa custody for its US-domiciled funds. 

Citi will also provide depositary services for the funds, which comprise of Polunin’s Developing Countries and Emerging Markets Small Cap UCITS-Sub Funds.

Over the past two years, Citi has identified Luxembourg has a key growth market for its investor services business. In 2016 it hired Patrick O’Brien from JP Morgan as head of offshore business development for Ireland and Luxembourg and appointed Jervis Smith to the newly created role, head of investor services in Luxembourg.

Last year Citi was appointed by Banque de Luxembourg to provide access to the Shanghai-Hong Kong Stock Connect, alongside custody services for A-shares acquired through the link. 

“This further appointment is an endorsement of our global custody and fund administration platform and highlights the strength of our franchise in Luxembourg. We look forward to leveraging our extensive custody and clearing network to help Polunin grow their SICAV business and provide them with a consistent experience across multiple jurisdictions,” said Citi’s Smith. 

“We look forward to leveraging our extensive custody and clearing network to help Polunin grow their SICAV business and provide them with a consistent experience across multiple jurisdictions”.