Deutsche Bank as custodian for sustainable fund 26 September 2014Singapore Reporter: Catherine Van de Stouwe
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Deutsche Bank is to provide custody and fund administration services to PR Indo Premier Investment Management for its newly launched stock-based exchange traded fund (ETF), Premier ETF SKI-KEHATI mutual fund.
The SRI-KEHATI index is a collection of 25 constituent stocks are selected by KEHATI from various sectors including agriculture, consumer goods, finance and infrastructure.
John Item, president director of Indo Premier Investment Management, said: “Premier ETF SRI-KEHATI mutual fund is our sixth ETF mutual fund and it is the first ETF categorised as a sustainable responsible investment in South East Asia.”
“With this green-themed fund, investors can have access to 25 prime stocks selected by the KEHATI Foundation. We are pleased to be working with Deutsche Bank again and look forward to further expanding our relationship.”
Elwin Karyadi, Director, head of global transaction banking and investor services Indonesia at Deutsche Bank, added: “Deutsche Bank already services three of Indo Premier’s ETFs and we are pleased to be chosen as custodian and fund administrator again by Indo Premier for this new ETF.”
“Indonesia’s growing ETF business bodes well for the country’s financial markets. With this new mandate, Deutsche Bank now has the largest market share as custodian bank in Indonesia for ETFs with an equity base.”
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