The PowerShare India ETF has selected Brown Brothers Harriman (BBH) to act as the funds full service custodian, administrator and transfer agent.
“We believe the PowerShares India Portfolio is an excellent choice for investors seeking direct, low cost access of Indian equity markets. We are very pleased to be partnering with Brown Brothers Harriman and look forward to a long, successful relationship that brings real value to investors,” says Bruce Bond, president and CEO, PowerShares Capital Management.
“BBH displayed its global market strength by accelerating regulatory approvals to establish the needed legal framework to provide foreign investors direct investment in Indian equity markets,” says Ben Fulton, executive vice president of PowerShares Global Product Development.
“BBH is pleased to serve as custodian, administrator, and transfer agent for the PowerShares India Portfolio. We continue to see tremendous growth in the ETF market and take great pride in helping innovative clients like PowerShares expand their product offering into complex foreign markets,” adds Jeffrey B. McCarthy, global ETF product head.