Citi said that it has 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 Citi’s partnership with Mirae Asset where it has provided global custody services to Mirae Asset’s Korean-domiciled overseas funds since 2006, as well as providing global custody and fund accounting to its Luxembourg SICAV’s and Brazil-domiciled products.
Through its securities and fund services business, Citi will provide investors with tailored solutions delivered through global platforms that feature modular, open architecture.
Mirae Asset Global Investments USA president and CEO Jay Jang said that Citi’s knowledge of Mirae’s business as well as their local presence around the world allows the company to enter new markets efficiently while optimizing in the capabilities of its investment operations staff and technology resources.
