Citi has extended its partnership with Mirae Asset Global Investments to provide securities and fund services in support of the launch of the Mirae Asset Discovery Funds.
Citi created a custom solution of global custody, fund administration and middle-office operations to enable Mirae Asset to launch new funds without significant investment in operations infrastructure.
This mandate extends Citis partnership with Mirae Asset where it has provided global custody services to Mirae Assets Korean-domiciled overseas funds since 2006, as well as providing global custody and fund accounting to its Luxembourg SICAVs and Brazil-domiciled products.
Citis unique ability to provide an exceptional level of service to all of our firms global locations makes it an ideal partner as our firm expands globally, says Jay (Hun Jun) Jang, president and CEO of Mirae Asset Global Investments (USA) LLC. Citi’s knowledge of our business as well as their local presence around the world allows us to enter new markets efficiently while optimizing in the capabilities of our investment operations staff and technology resources.
Neeraj Sahai, global head of Securities and Fund Services at Citi, adds: We were able to quickly prepare for Mirae Assets roll-out in New York because we had the implementation, technology and operations resources available to support Mirae Asset in all of their operating locations. We were able to help Mirae Asset ensure a consistent service globally and help them connect their geographically dispersed offices.
(CG)