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.

Schroders' investment inĀ  Korean equities amounted to $2.1 billion at the end of last year, including investment through the Korea Europe Fund, the Schroder Seoul Fund, and the Schroder Emerging Markets Fund. In 1999,...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222