Deutsche Bank will provide custody and fund administration services to PT Indo Premier Investment Management for its newly launched stock-based exchange traded fund (ETF) – Premier ETF SRI-KEHATI Mutual Fund.

 

Established in 2003, Indo Premier Investment Management is a subsidiary of Indonesia-based Indo Premier Securities. The SRI-KEHATI index is a collection of 25 constituent stocks selected from various sectors including agriculture, consumer goods, finance and infrastructure. The selection of stocks included in the SRI-KEHATI index is performed by the KEHATI Foundation.

 

John D. 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 categorized as SRI (sustainable responsible investment) in the South East Asia. With this green-themed fund, investors can have access to 25 prime stocks selected by the KEHATI Foundation.”

 

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.”