Citibank appointed trustee to Schroders' Korean funds

Citibank will provide custody and compliance monitoring services for the fund house.

Citibank has been appointed by Schroders in Korea to handle trusteeship, custody and compliance monitoring for the firm's Korean funds.

Schroders was awarded the final license to establish a local investment subsidiary in Korea in mid-July making it the first foreign asset management company to be awarded such authorization. The license allows it to launch and manage investment trusts marketed to local investors. Its wholly-owned subsidiary, Schroders Korea Limited, plans to launch its first locally managed funds this month....

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