Citi has been appointed by Mirae Asset to provide custody, funds administration and transfer agency for its Luxembourg UCITS III SICAV fund which includes nine sub-funds investing in Asian equities.
As of July 2007, Mirae Asset had approximately $50 billion of assets under management.
“The combination of Citi’s unrivalled global network and robust local capabilities in Luxembourg made them the ideal partner to service our fund which covers multiple geographies and investment jurisdictions,” says Edward OH, Head of International Business Division 1 at Mirae Asset Investment Management.
Neeraj Sahai, Head of Securities and Fund Services at Citi adds: “Citi’s appointment by Mirae Asset illustrates how our world wide network and local market expertise comes together to provide our clients with an unrivalled global solution.”