The CCF is a tax transparent mutual fund specifically designed by the Irish market to meet the twin objectives of asset aggregation and tax transparency. The Citigroup solution enables LGIM to distribute the CCF to a large number of European pension fund clients allowing clients to realize their full entitlements under existing double taxation treaties.

Mike Craston, Managing Director, Corporate Pensions, LGIM, said, “The CCF combines LGIM’s expertise in index fund management with Citigroup’s experience in fund services and custody. We have worked closely with Citigroup to establish the structure which provides our clients with a cost-effective, pooled solution with the benefit of tax transparency.”

Bernard Hanratty, Director, Citigroup Global Transaction Services, said, “Citigroup is pleased to partner with LGIM to create this pension pooling structure. Leveraging a structure using the CCF allows LGIM to further enhance its leading index management service to European pension funds while marking an important initiative for Citigroup’s growing fund services business.”

Citigroup offers pension pooling services in the Luxembourg, Irish, and Dutch markets for the growing multi-national and fund manager sectors. Citigroup’s expertise in this area compliments the notional asset pooling solutions that it has delivered in Europe for the past 10 years.