Citigroup Inc.'s global transaction services unit was appointed the service provider for the Roosevelt Investment Group Inc.'s retail separately managed accounts business.
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Roosevelt, a New York company formed in 2002, is the investment management arm of Sheer Asset Management Inc., also of New York. It manages all-cap core equity portfolios and global enhanced fixed-income accounts. It had $1.2 billion of assets under management through March.
It is also the investment adviser for the Roosevelt Anti-Terror Multi-Cap Fund.
Citi made the announcement Thursday.
