Indo Premier Investment appoints Deutsche Bank as custodian
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Indo Premier Investment appoints Deutsche Bank as custodian 13 May 2013Indonesia Reporter: Georgina Lavers
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Deutsche Bank will provide PT Indo Premier Investment Management with custody and fund administration services for two exchange traded funds that are newly launched on the Indonesia Stock Exchange.
Premier ETF Syariah Jakarta Islamic Index is the first equity-based Shariah-compliant ETF in Indonesia, and Premier ETF Indonesia Consumer is the first consumer-focused ETF in the country.
A subsidiary of Indo Premier Securities, Indo Premier Investment is a local security firm in Indonesia with over IDR590 billion in equity capital.
John Item, the president director of Indo Premier Investment said: “We are pleased to have chosen Deutsche Bank. Their understanding of our vision and our requirements, combined with their scale and service excellence made it an easy choice for us. With four types of ETFs already launched, we will continue seek more opportunities in this growing market.”
Elwin Karyadi, head of global transaction banking and head of direct securities services in Indonesia at Deutsche Bank said: “We are honoured to have been appointed custodian and fund administrator for Indo Premier Investment’s newly launched ETFs. By continuously investing in our people and our technology, we ensure that we are ready to support our clients’ growing
businesses.”
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