Peter Carnell, who is working with Citi as a fund promoter, said Citi has put in place a structure to deliver a package of solutions to independent financial advisers.
The first of the two funds being offered is the 80% Protected Dynamic Allocation Fund, for which BlackRock acts as a portfolio adviser, and which offers investors portfolio protection of 80% of the highest ever price achieved via a lock in feature.
“It could be viewed as a version of the good old with profits fund, smoothing out returns,” Carnell said.
Structured product
The other offering is the UK Autocall Fund, which is a structured product combined with the UCITS compliant fund wrapper that gives pre-defined returns linked to the FTSE 100 index.
“Many UK financial advisers like that kind of product but they haven’t got in a fund structure,” Carnell said.
Both funds are UCITS IV compliant with daily dealing and liquidity.
“These are two retail friendly approaches utilising structures and concepts that are understood in the adviser community,” said Carnell, who is operating as an independent consultant working with Citi to promote the products to the intermediary market.
In Europe Citi manages over $1.1bn (£700m, €970m) in retail funds and has some 11 fund offerings. It does business in more than 160 countries and has 200 years of experience.
