Under the agreement, Citigroup will use SunGard’s Invest One, an investment accounting platform, to utilize its master trust accounting operations, extending its use of the software since it was first implemented by Citigroup in 1999.
The company will also utilize Investar*One, a shareholder recordkeeping system, which is integrated with Invest One, to provide real-time processing. According to SunGard, the product also integrates seamlessly with PowerImage, a system that digitally captures images to create a database of documents.
Additionally, SunGard’s Xamin, a performance measurement and attribution system, will be deployed with the intention of facilitating Association for Investment Management and Research/Global Investment Performance Standards (AIMR/GIPS) compliance standards and allowing users to access global, daily and monthly performance information.
In a further move to enter the third party administration (TPA) business in North America, Citigroup purchased Forum Financial Group, another Invest One customer, in 2003 with the aim of establishing a strong presence in fund accounting.
