Australian fund manager BetaShares has chosen Citi Australia to provide its custody and fund administration services.
BetaShares manages a broad range of exchange traded funds (ETFs) in the Australian market.
ETF ownership has evolved in recent years, broadening beyond the retail and self-managed super fund segment to include increased participation by institutional clients, says Citi, with greater ownership through self-managed accounts and model portfolios.
Citi has been growing its ETF management suite across markets globally to meet this demand.
Continuing to expand its ETF offering, BetaShares launched its Crypto Innovators ETF
(ASX:CRYP) to the Australian Stock Exchange (ASX) last week, providing investors exposure to a portfolio of global companies within the crypto economy.
Luke Randell, head of markets and securities services for Citi Australia, says: “We are thrilled to partner with BetaShares, one of Australia’s largest and most innovative ETF managers. They are a leader in the category and we look forward to working with them as they expand their market presence and grow their product suite for investors.”
Alex Vynokur, CEO of BetaShares, comments: “Citi is uniquely placed to assist us to execute on our plans to expand our suite of investment solutions for our growing investor base. We are confident in Citi’s ability to provide the required operational support towards our efforts to continually improve the experience for our investors.”
