Citi renews Victory Capital Management contract

AP News
Posted: Dec 01, 2009 12:26 PM

Citi on Tuesday said it renewed and extended its contract with Victory Capital Management Inc. and the Victory Funds.

The renewal calls for Citi's Securities and Fund Services business to continue providing sub-administration and sub-fund accounting to Victory, and transfer agency support services to the Victory Funds.

The extension means Citi will also serve as global custodian for the Victory Funds, a family of 22 mutual funds.

Cleveland-based Victory Capital Management manages over $45.4 billion in investments.

Shares in Citi's parent, Citigroup Inc., gained a penny to $4.12 in afternoon trading.