Investment manager Mirae Asset Global Investments has appointed Citi Australia as its provider of custody and fund administration services for its Australian traditional fund business.

“Mirae Asset Global Investments works closely with Citi in a number of markets globally, and we look forward to their support and enhanced infrastructure further enabling us to provide a quality experience for current and future investors in Australia,” says Kris Walesby, chief executive officer, Mirae Asset Australia.

“Partnership with Citi will enable us to successfully execute our expansion of products, across both passive and active investment solutions, and grow our investor base,” adds Oliver Reynolds, chief operating officer, Mirae Asset Australia.

Mirae Asset Global Investments has over A$305 billion (US$219.77 billion) in assets under management, and Citi Securities Services has over US$30 trillion of assets under custody and administration and a proprietary network spanning 60 markets.