Huntington Asset Advisors (Huntington) has selected Citi to provide fund administration, custody and index receipt services for Huntington Strategy Shares exchange traded funds (ETFs). The first Huntington ETF, Huntington Ecological ETF, launched on 20 June 2012 was followed by the Rotating Strategy ETF, launched 25 July.
“We have a long-standing relationship with Citi and we knew we could rely on their expertise to provide valuable insight on how to develop active ETFs,” said Randy Bateman, president and chief investment officer (CIO) of Huntington Funds. “Citi met all our project milestones and allowed us to focus our energy on launching a new product and building this business.”
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.
A total of US$4.88 trillion of debt has been sold so far this year reports Dealogic, close to the level of 2007 when US$4.91 trillion of bonds were issued over the same period.