Citibank Worldwide Securities Services was appointed custodian for four Janus Funds portfolios this month.
The U.S. money market portfolios contain $7 billion of assets, said Samuel J. Borowski, managing director of custody and trust at the New York- based unit of Citigroup.
Citibank WWSS, which administers a total of $3.4 trillion of assets internationally, has been pushing in recent months to increase its mutual fund administration business.
It was recently appointed custodian by Fidelity Investments for $35 billion of municipal and money market assets.
Janus, which is based in Denver, had used United Missouri Bank of Kansas City as its custodian for four years. "We just needed the liquidity of a larger bank," a Janus spokeswoman said.
Janus, which manages $147.9 billion of assets, does not use Citibank WWSS as administrator on any other portfolios.