This time there is no guarantee

Citigroup has broken away from the mind-numbing trend in new product launches by marketing a fund that does not offer a capital guarantee.
Citigroup Asset Management this week launched a buyhold global equity fund to Hong Kong investors through its Salomon Smith Barney and Citibank channels.

The hope is that retail investors will jump at the chance to buy something other than one of the many new capital guarantee funds that have hit the market in recent months.

The fund is the first Asian registered vehicle in the Smith Barney Select Global range that work on the principle of buying and holding 30-odd stocks for a period of 12 months. Stocks are chosen in advance based on the research of Citigroup analysts and sat on for 12 months with no stoploss limits. Investors are free to...

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