Citi has been appointed by Victory Capital to provide fund administration, custody, ETF services and securities lending for Victory’s most recent acquisition, USAA Asset Management. The new mandate resulted in the transfer of servicing for 53 mutual funds and ETFs to Citi, representing approximately USD80bn in assets. This new mandate expands Citi’s existing relationship with Victory Capital, where it has provided fund services to the Victory Funds since 1986 and full ETF services for its VictoryShares ETFs since 2017.
