IFS/State Street jumps to number two after buying Goldman Sachs' admin arm.
Citco is once again the most popular administrator for hedge funds, topping the annual Absolute Return ranking for the fifth consecutive year.
The international firm, which has led the survey every year since its inception, further increased its market share to 23.03%, approximately 1.2 percentage points more than last year.
Citco has kept its lead by investing aggressively in new products such as Treasury and collateral functions, and new standalone risk management software in the Americas and Europe, said global head of sales Jay Peller. Even among startups, the breadth of what funds are demanding from their administrators is increasing,