Citi Appointed by Mirae Asset to Provide Fund Administration and Custody
Services for its US-listed Exchange Traded Funds
NEW YORK -- July 16, 2013
Citi has been appointed by Mirae Asset to provide fund administration, custody
and index receipt services for a new ETF platform in the US under the Horizons
brand. The first ETF, the Horizons S&P 500® Covered Call ETF (“HSPX”) launched
on June 24, 2013 and will be followed by a series of sector ETFs.
“We have a long-standing relationship with Citi and we knew we could rely on
their expertise and global model to provide valuable insight across
transactional services and trading,” said Taeyong Lee, President of Mirae
Asset Global Investments’ Global Business Unit.
Citi OpenInvestor^sm currently provides services to eleven ETF managers in
nine countries around the world. Citi supports both active and passive ETFs
across multiple asset classes, offering custody, administration, index receipt
agent, liquidity, as well as primary and secondary market trading through
Citigroup Global Markets Inc. Citi focuses on delivering solutions across the
ETF manager’s complete value-chain: from drawing board to trading to IPO and
back and middle office.
“We are pleased to expand our global relationship with Mirae Asset and support
them in the launch of their first ETF in the US,” said Chandresh Iyer,
Managing Director, Citi Investor Services. “Our ETF servicing solution for
Mirae Asset is a testimonial to the power of Citi’s global network and
expertise for global asset managers seeking to expand their product and
Citi OpenInvestor^SM is the investment services solution for today’s
diversified investor, combining specialized expertise, comprehensive
capabilities and the power of Citi’s global network to help clients meet
performance objectives across asset classes, strategies, and geographies. With
an on-the-ground presence in over 95 countries, Citi offers award winning
service and unmatched scale. Citi provides complete investment services for
institutional, alternative, and wealth managers delivering middle office, fund
services, custody, investing and financing solutions focused on clients’
specific challenges, customized to their individual needs.
About Mirae Asset Global Investments (www.MiraeAsset.com)
Mirae Asset Global Investments is a global investment management firm with
offices located in Australia, Brazil, Canada, China, Colombia, Hong Kong,
India, Korea, Taiwan, the United Kingdom, the United States and Vietnam. With
approximately 560 employees, the firm manages over $57 billion in assets
globally through a diversified platform to offer market-leading franchises in
traditional equity and fixed income products, ETFs and alternative strategies,
including real estate, private equity and hedge funds.
The Horizons ETFs Group (www.HorizonsETFs.com), serving as ETF business arm of
Mirae Asset Global Investments, offer families of ETFs in Canada, Korea, Hong
Kong, Australia, and the United States. With approximately $7 billion in
assets under management and 180 ETF listings worldwide, the Horizons ETFs
Group makes up one of the largest collective families of ETFs in the world.
Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi |
YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook:
www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
Nina Das, 212-816-9267
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