Citibank has been appointed by Schroders in Korea to handle trusteeship, custody and compliance monitoring for the firm's Korean funds.
Schroders was awarded the final license to establish a local investment subsidiary in Korea in mid-July making it the first foreign asset management company to be awarded such authorization. The license allows it to launch and manage investment trusts marketed to local investors. Its wholly-owned subsidiary, Schroders Korea Limited, plans to launch its first locally managed funds this month.
Schroders' investment in Korean equities amounted to $2.1 billion at the end of last year, including investment through the Korea Europe Fund, the Schroder Seoul Fund, and the Schroder Emerging Markets Fund. In 1999,...
