Citi to Provide Colombia Asset Management, Global Custody and Fund Administration Services for New MILA 40 Exchange-Traded Fund
Miami, Florida - November 4, 2013 – Cititrust Colombia S.A. has been appointed by Horizons Exchange Traded Funds to provide global custody and fund administration services for their 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 ("ETF") 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, Latin America, Citi Securities and Fund Services.
"We are excited to be Horizon's strategic partner in expanding their ETF business in Colombia. As the pioneer and the only provider to offer end-to end custody and administration solutions for ETF issuers, Citi is a trusted partner in the local market and across Latin America," said Armanda Mago, Securities and Fund Services Head for Citi Colombia.
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Horizons Investment Management Inc. ("Horizons") and Horizons LatAm are members of Mirae Asset Global Investments. The obligations of the Cititrust Colombia S.A. and the Horizons related to the management of the Horizons MILA ETF are of due diligence and not guaranteed performance. Investing in the Horizons MILA ETF is subject to investment risks stemming from movements in the prices of the securities comprising its creation units. Registration with the Registro Nacional de Valores y Emisores (RNVE) does not imply certification by the Superintendencia Financiera de Colombia (SFC) of the quality of the securities or the solvency of the issuer. The funds delivered by investors to the authorized participants to participate in the Horizons MILA ETF are not deposits nor do they generate for the stock brokerage companies, the authorized participants, Cititrust Colombia S.A. or Horizons duties of a depository institution and are not covered by the deposit insurance of the Fondo de Garantías de Instituciones Financieras (FOGAFIN), or by any other scheme of such nature.