Citibank has launched 11 new mutual funds in China, in partnership with BlackRock Merrill Lynch, including one called the Merrill Lynch International Investment Funds Series that will give Chinese investors exposure to international investments, as permitted under the QDII program, Global Banking News reports. To date, Citibank is offering the largest number of international mutual funds in China.
“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,” said Anand Selva, executive vice president in the consumer group at Citibank (China). “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.”
