Citibank China, in partnership with BlackRock Merrill Lynch Investment Managers, announced the launch a new QDII product: the Merrill Lynch International Investment Funds Series.
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.
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, todayâ€™s launch is another example of Citibankâ€™s commitment to provide varied and innovative product selections to our Chinese customers. Today, we have chosen to partner with one of the worldâ€™s largest asset management companies, BlackRock, to bring 11 specially-selected fund offerings 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.