Depositary bank services
Depositary bank services for investment and pension funds
Bank Handlowy w Warszawie S.A., operating under the Citi Handlowy brand, has been providing depositary bank services to domestic investment funds since 1996, domestic pension funds since 1998 and also voluntary pension schemes since 2012. Citi Handlowy cooperates with some of the largest players in the investment and pension fund market. In terms of assets under custody and the number of cooperating funds, the Citi Handlowy is today amongst Poland’s top custodian banks (source: Citi Handlowy). Citi Handlowy’s representatives actively participate in numerous projects run by various institutions, including market regulators and associations, to draft regulations and best practices for capital markets.
Depositary bank services are provided together with securities custody services.
As part of our depositary bank and securities custody services we:
- maintain registers of a fund’s assets, which are recorded in appropriate accounts and kept by Citi Handlowy or other authorized entities
- verify calculations of a net assets value
- ensure that agreements for purchase/sale of a fund’s assets comply with generally applicable laws and its bylaws
- execute orders submitted by a fund, provided they are not in breach of applicable laws or its bylaws and do not put its assets under custody in risk
- ensure that a fund’s assets are invested in accordance with generally applicable laws and its bylaws
- ensure that all agreements applicable to a fund’s assets and all agreements with a fund’s participants are settled on time