The Deutsche BankA Brain alliance in Korea has been awarded six joint mandates to administer 12 mutual funds. The wins give Deutsche Bank just under 20% of the market share in mutual fund custody in the country, while A Brain's market share of fund administration now stands at 60% of the mutual fund segment.
Among the mandates won are funds launched by Macquarie-IMM Investment Management, an Australia-Korea joint venture asset management company, and SEI Asset Korea, a local mutual fund company comprising US-based SEI Investments, IFC and TongYang Securities.
Deutsche Bank's partnership with A Brain has been operating in Korea since August 2000. Under the arrangement, Deutsche offers custody and...
