Citi pounces on novel Colombian ETF 13 November 2013Colombia Reporter: Georgina Lavers
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Cititrust Colombia S.A. has been appointed by Horizons Exchange Traded Funds to provide global custody and fund administration services for its newly-launched Fondo Bursátil Horizons MILA 40 de S&P (the Horizons MILA 40 ETF).
The Horizons MILA 40 ETF is the first exchange traded fund to give Latin American investors the opportunity to access forty of the largest and most liquid stocks listed on the Colombia, Peru and Chile stock exchanges.
The launch of MILA 40 ETF, as the first international ETF in Colombia and the region, reiterates the solid progress the country has been making for almost a decade.
It also further promotes market integration in Latin America (MILA) and a joint trading venture formed by the Colombia, Peru and Chile stock exchanges.
“With a single investment, investors can now gain low-cost, diversified exposure to all three MILA markets,” said Federico Torres, head of Latin American sales for Horizons LatAm.
“Citi has a unique ability to connect markets with its broad proprietary network in Latin America. Furthermore, advanced processing technologies and global reach of services enable us to offer innovative and tailored solutions that meet specific needs,” said Alejandro Berney, region head of Latin America, Citi Securities and Fund Services.
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