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Citibank Launches 11 New Mutual Funds Under QDII Scheme


WEBWIRE

Shanghai – Citibank China Co., Ltd. (“Citibank”), in partnership with BlackRock Merrill Lynch Investment Managers (“BlackRock”), today announced the launch a new QDII product - the Merrill Lynch International Investment Funds Series (“MLIIF”). The offering consists of 11 carefully selected mutual funds. The launch sees Citibank offer its customers QDII mutual funds with the widest coverage of global markets and the most diversified asset categories of any bank in China.

Mr. Anand Selva, Executive Vice President, Consumer Group of Citibank (China) Co., Ltd., said, “After becoming the first bank in China to offer direct, open-ended offshore mutual funds under the QDII scheme in August, today’s launch is another example of Citibank’s commitment to provide varied and innovative product selections to our Chinese customers. Today, we have chosen to partner with one of the world’s largest asset management companies, BlackRock, to bring 11 specially-selected fund offerings to the China market.”

Mr. David Peng, Managing Director of BlackRock Merrill Lynch Investment Managers, noted, “BlackRock is pleased to work with Citibank as our first partner in China to offer direct investments in our funds through the QDII scheme. With our focus in risk management and our highly rated products, we are well positioned to provide a mutual funds package that allows Chinese retail customers to enhance and diversify their portfolio. This collaboration underpins our commitment to our partner and to the China market.”

The Citibank QDII products being launched are grouped under three themes covering 11 mutual funds. The themes reflect current market focus and the dynamic needs of Chinese investors. These are:

A. Emerging Markets Selection

1. MLIIF Emerging Markets Fund – the Fund invests at least 70% of its total net assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, developing markets.

2. MLIIF Asian Dragon Fund – the Fund invests at least 70% of its total net assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in Asia, excluding Japan.

3. MLIIF Latin American Fund – the Fund invests at least 70% of its total net assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, Latin America.

4. MLIIF India Fund – the Fund invests at least 70% of its total net assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, India.

B. Natural Resources Selection

5. MLIIF World Mining Fund – the Fund invests globally at least 70% of its total net assets in the equity securities of mining and metals companies whose predominant economic activity is the production of base metals and industrial minerals such as iron ore and coal.

6. MLIIF World Energy Fund – the Fund invests at least 70% of its total net assets in the equity securities of companies whose predominant economic activity is in the exploration, development, production and distribution of energy.

7. MLIIF New Energy Fund – the Fund invests globally at least 70% of its total net assets in the equity securities of companies whose predominant economic activity is in the alternative energy and energy technology sectors.

8. MLIIF World Gold Fund – the Fund invests globally at least 70% of its total net assets in the equity securities of companies whose predominant economic activity is gold mining.

C. Global Markets Selection

9. MLIIF Global Allocation Fund – the Fund invests globally in equity, debt and short-term securities, of both corporate and governmental issuers, with no prescribed limits.

10. MLIIF Global Dynamic Equity Fund – the Fund invests globally, with no prescribed country or regional limits, at least 70% of its total net assets in equity securities. The Fund will generally seek to invest in securities that are, in the opinion of the Investment Adviser, undervalued.

11. MLIIF Global Enhanced Equity Yield Fund – the Fund invests globally, with no prescribed country or regional limits, at least 70% of its total net assets in equity securities. The fund makes use of derivatives in a way that is fundamental to its investment objective in order to generate additional income.

With today’s launch, Citibank now offers QDII products in a total of 26 funds in multiple currencies. “These QDII products present a full basket of selections of mutual funds for individual investors in China, from which they can build their own investment portfolio based on their own preference and risk appetite. We provide flexibility, liquidity and choice to help our customers to growth their wealth,” Mr. Selva said.

The Citibank QDII product - Merrill Lynch International Investment Funds Series are available in both USD and RMB for local Chinese residents only. They are available in Shanghai, Beijing, Tianjin, Guangzhou, Shenzhen, Chengdu, and Hangzhou.



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