Ausbil appoints Citi to provide custody and funds administration services

19 February, 2024: Leading Australian fund manager Ausbil Investment Management Limited has appointed Citi Securities Services to provide custody and funds administration services.

Since 2020, Citi's Securities Services business has maintained a strong growth trajectory, successfully onboarding 30 new Australian clients. This latest appointment by Ausbil comes following a rigorous tender and due diligence process.

Ausbil manages a broad range of active Australian and global equity strategies for major superannuation funds, institutional investors, master trust and retail clients. As one of Australia's most well-regarded fund managers, it currently has $16.6 billion1 in assets under management.

Mark England, Citi Australia and New Zealand Head of Securities Services, said "we are excited to build upon Citi's longstanding relationship with Ausbil with the addition of Securities Services, and look forward to delivering greater efficiencies to support their strategic growth aspirations."

"Citi's ability to successfully and seamlessly onboard clients is one of our key strengths. Our deeply embedded local market knowledge and commitment to client support, coupled with our best-in-class suite of solutions across execution, data and digital services are what made us an ideal partner for Ausbil," said Mr. England.

In addition to its well-regarded Australian equity products, Ausbil has a strong track record in global asset classes including infrastructure, small cap and resources. Ausbil continues to strengthen its profile in Australia and internationally, including in the USA and Europe.

Ausbil CEO, Mark Knight said, "we are pleased to appoint Citi to provide custody and investment administration services. Citi is uniquely placed to deliver the operational support to fuel our growth ambitions and enhance the experience for our investors. Both transition teams did a great job."

Citi Securities Services has approximately USD$29.2 trillion2 of assets under custody, administration, and trust worldwide, and a leading proprietary network spanning more than 60 markets. It provides cross-border support for clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of custody and fund services that can be tailored to meet clients' needs.

¹ As at 31 December 2023
² As at 30 September 2023