To celebrate 100 years operating in Asia, Citibank is marketing a mutual fund to bank customers in Singapore and Hong Kong this month that will give investors a cheap, long-term exposure to the world's leading blue chips, says Betty Ng, director of wealth management for the consumer bank in Hong Kong.
Using Salomon Smith Barney sell-side analysts and Citigroup Asset Management's asset allocation skills, Citibank has put together an open-ended fund investing in 30 of the world's leading global companies, all of which must have over $5 billion in market capitalization - the likes of Nestle, News Corporation, Pfizer, Canon or Hutchison Whampoa.
The strategy is buy and hold, explains Wendy Lim, regional marketing director....
