Mirae Asset Global Investments (HK) Limited has appointed Citi as OFC custodian and provide fund administration and ETF services for the launch of two OFC ETFs: an inaugural active ETF – Global X China Innovator Active ETF – and a passive ETF – Global X China Global Leaders ETF. Both invest in equities of companies headquartered or incorporated in China, including Hong Kong and Macau. Services will include portfolio composition file creation. Citi will also deploy its proprietary Advanced Citi ETF System (ACES) that enables participating dealers to place creation and redemption orders online for Citi-administered ETFs.
Jungho Rhee, CEO of Mirae Asset Global Investments (HK) Limited, said: “We are the first asset manager to launch OFC structured ETFs in Hong Kong and we are incredibly proud of that achievement. It is therefore only natural for us to partner with Citi, another pioneer in OFC ETFs. Citi as a custodian is able to provide a host of additional ETF services which allows us to consolidate all our needs with one provider.”