Hong Kong investors will be the first to have access to managed accounts, a product so far existing only in the United States. Citigroup Asset Management is extending its US equities Multiple Discipline Account to wealthy clients at Citibank. Members of the Citigold programme can access a managed account for a minimum of $100,000.
Managed accounts have become a huge business in the US, giving customers in the mass affluent segment somewhere between ordinary retail depositors and private bank multi-millionaires flexibility and tailored service. The private bank-like atmosphere has been enabled by information technology. Tech means customers with a certain amount of wealth can customize their securities portfolios and enjoy...
