Citi Colombia has won a mandate from Horizons Exchange Traded Funds to provide global custody and fund administration services for Fondo Bursátil Horizons MILA 40 de S&P (the Horizons MILA 40 ETF), which launched on October 23.
The net assets of the ETF are valued at over $3.5 billion, and it is the first Andean-equity focused ETF launched in Colombia. The ETF aims to generate returns similar to the S&P MILA 40 Index, which follows 40 of MILA’s largest and most liquid stocks. MILA (Mercado Integrado Latinoamericano) links the trading platforms of the stock exchanges of Chile, Colombia and Peru, creating Latin America’s second largest market behind Brazil’s BM&FBOVESPA.
“Citi has a unique ability to connect markets with its broad proprietary network in Latin America. Furthermore, advanced processing technologies and global reach of services enable us to offer innovative and tailored solutions that meet specific needs,” says Alejandro Berney, region head, Latin America, Citi Securities and Fund Services.
Citi Wins Custody Mandate for Latin American ETF
Citi Colombia has won a mandate from Horizons Exchange Traded Funds to provide global custody and fund administration services for Fondo Bursátil Horizons MILA 40 de S&P (the Horizons MILA 40 ETF), which launched on October 23.
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