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Citi awarded mandate to provide ETF services for FinEx ETFs

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Citi has been awarded the mandate to provide ETF services for the full fund range of FinEx ETF, Russia’s first and leading exchange-traded fund issuer. Under the agreement, Citi will service FinEx’s 13 ETFs representing $600 million in assets. Citi will provide a full range of services across custody, fund administration and basket services, as well as distribution support through Citi affiliates.

“We are proud to have been selected by FinEx as their ETF services provider,” says Gareth Myburgh, EMEA ETF Services Product Manager at Citi. “We believe Citi’s differentiated, holistic approach to ETF servicing in conjunction with our broad range of capabilities across markets and securities services offers clients something unique, particularly as we have no affiliated asset management or ETF issuing arm.”

“We chose Citi as our ETF services provider because of their ability to support our diverse international fund range across the full ETF ecosystem,” says Martin Bednall, Managing Director at FinEx. “We are certain that such a global partner as Citi will be beneficial for our clients who are expecting the highest standards of investor protection. Our ETF platform allows for a seamless upgrade of ETF services provider.”

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