Indo Premier Investment Management has appointed Deutsche Bank to provide custody and fund administration services for two ETFs newly launched on the Indonesia Stock Exchange.
Premier ETF Syariah Jakarta Islamic Index is the first equity-based Shariah-compliant ETF in Indonesia, and Premier ETF Indonesia Consumer is the first consumer-focused ETF in the country. A subsidiary of Indo Premier Securities, Indo Premier Investment is one of the largest and most capitalised local securities firms in Indonesia with over IDR590 billion ($60.5 billion) in equity capital as of January 2013.
John Item, president director of Indo Premier Investment said: “We are pleased to have chosen Deutsche Bank. Their understanding of our vision and our requirements, combined with their scale and service excellence made it an easy choice for us. We look forward to working with their dynamic team of experts. We are proud to be the only investment management firm to manage equity ETFs in Indonesia to date. With four types of ETFs already launched, we will continue seek more opportunities in this growing market.”
Elwin Karyadi, head of Global Transaction Banking and Head of Direct Securities Services – Indonesia at Deutsche Bank added: “We are honored to have been appointed custodian and fund administrator for Indo Premier Investment’s newly launched ETFs. By continuously investing in our people and our technology, we ensure that we are ready to support our clients’ growing businesses. Our goal is always to build long-term partnerships with our clients, such as Indo Premier Investment.”