Citibank Malaysia launches Prudential global equity blend fund
22nd May 2007
Citibank Malaysia has launched the Prudential global equity blend fund, which seeks to achieve long-term capital growth by investing in a collective investment scheme called the AllianceBernstein � a global equity blend portfolio that, in turn, seeks to achieve long-term growth by investing in a portfolio of global equity securities.
The new fund, which is the first of its kind in Malaysia, is derived from the collaboration between three renowned brands - Prudential Fund Management Berhad, AllianceBernstein and Citibank Berhad. Prudential Fund Management Berhad will be the local fund manager of the new product, investing into a collective investment scheme provisioned by AllianceBernstein, while distribution of the fund is solely channeled by Citibank Berhad.
"We are honored in taking the pole position again in offering investors another attractive global investment opportunity. The increased flexibilities in the foreign exchange administration policies introduced this year clearly indicate the dynamism apparent within the financial markets and it opens up a vista of global opportunities for investors," said Aisyah Lam, head of wealth management products for Citibank Berhad. "We believe that the introduction of this fund is indeed timely as it helps investors maintain a globally diversified portfolio that is regularly rebalanced."
The fund is most suitable for investors with a long-term investment horizon seeking capital appreciation through participating in the upside of companies that are in global equity securities in both developed and emerging markets.