Announcing the launch, Jonathan Larsen, Asia Pacific head of Consumer Banking said, "These share classes have traditionally been available only to institutional investors and Ultra HNWI clients. Leveraging our global platform, we are able to bring these products to our Citigold Private Clients in Asia for the first time."
Launched initially in Singapore to Citigold Private Clients, the Institutional & High Net Worth Fund Platform will soon be made available to other key markets in Asia Pacific, the US bank said.
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Citigold Private Client is an exclusive and highly personalized wealth management proposition for high net worth individuals with assets under management of between US$1 million and US$10 million.
According to Citigroup, the new service will provide Citigold Private Clients access to high-conviction unit trusts from top-tier global fund managers, especially share classes of funds that have been traditionally available to institutional and ultra high net worth clients.
The funds are offered at improved pricing compared with retail share-class funds, the bank claims.
The bank further claims that the products selected for the platform have demonstrated standards of quality in their respective asset classes based on investment process, management and consistency of past performance, both from an absolute measurement and a relative peer-level basis.
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By GlobalDataThe bank said that there are 12 funds available to clients, and it expects to double the number in the next year.
