Citis Securities and Fund Service have been mandated by South Koreas Mirae Asset Management to provide and array of fund services for its newly launched Luxembourg Sicav (Mirae Asset Global Discovery Fund).
For Mirae, Citi Luxembourg will serve as fund administrator transfer agent and custodian for Mirae Asset Managements Luxembourg Sicav which is now sold to institutional and retail investors in Hong Kong. Citi will also provide integrated sub-transfer agency, distributor support, paying agent services, transaction processing and reporting services through its Hong Kong- based operations team. By servicing from Hong Kong, Citi will cover any time zone issues and extend the operation window for the fund.
David Russell, Managing Director, Regional Head of Securities and Fund Services, Asia Pacific, Citi, said: As increasing numbers of Asia Pacific-based asset managers launch global products, Citi Securities and Funds Services is best positioned to support their expansion plans. Based on our footprint, innovation and understanding, we will confidently support the expansion ambitions of a Mirae Asset Management regionally and globally.