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Citibank launches 11 new mutual funds under QDII scheme

Citibank in partnership with BlackRock Merrill Lynch Investment Managers has launched a new QDII product, the Merrill Lynch International Investment Funds Series. The offering consists of 11 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.

The Citibank QDII products being launched are grouped under three themes namely, emerging markets selection, natural resources selection and natural resources selection covering 11 mutual funds. The themes reflect current market focus and the dynamic needs of Chinese investors.

Anand Selva, executive vice president for consumer group of Citibank (China) said: 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.

David Peng, managing director of BlackRock Merrill Lynch Investment Managers, said: 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.