Citi has been appointed by Emles Advisors to provide securities services for its new family of ETFs, which launched on October 15. As part of the mandate, Citi will provide fund administration, global custody, transfer agency and ETF services.
"We are proud to have been selected by Emles as their partner for growth as they bring their first ETFs to market," said Dominic Crowe, North America Head of Custody and Fund Services at Citi. "This is the beginning of a new journey for Emles, and we look forward to supporting their progress as they expand their business."
"We chose Citi Fund Services as our ETF servicing agent because of their proven track record supporting innovation and their ability to bring new products to market quickly," said Gabriel Hammond, founder and CEO, Emles Advisors. "We look forward to growing our business with the support of Citi Fund Services' platform."
Emles Advisors is a new asset management firm based in New York, dedicated to identifying and developing differentiated investment strategies across private and public markets, for retail investors, financial advisors and institutional clients.
Initially, Emles launched four new ETFs: the Emles @Home ETF (CBOE: LIV), an equity ETF that seeks to benefit from the shift towards more time spent at home; Emles Made in America ETF (CBOE: AMER) for equity exposure to companies that manufacture and generate revenue in the U.S.; Emles Federal Contractors ETF (CBOE: FEDX) for equity exposure to companies that generate revenue from U.S government contracts, and Emles Real Estate Credit ETF (CBOE: REC) a fixed income ETF that provides access to corporate bonds issued by real estate companies. Emles plans to launch additional funds supported by Citi in the near future.
Last year Citi announced the expansion of its ETF custody and administration platform with the global rollout of its ACES (Advanced Citi ETF System) technology that allows Citi to automate the full ETF life cycle from basket creation to order processing and settlement. Emles Advisors will benefit from Citi's state-of-the-art technology and fund services expertise, joining a growing list of ETF issuers, both new and established, in choosing Citi.
With over $23.6 trillion 1 of assets under custody and administration and the industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with in-depth local market expertise, advanced processing technologies and a wide range of custody and fund services that can be tailored to meet clients' needs.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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1 As of Q2 2020
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