In the last three months Citi Global Wealth clients across Asia Pacific have invested close to US$5bn in bonds across the bank's wealth platform in the region.
"The size and speed of these investments underline Citi's strong wealth platform across the region and the ability to support clients with their wealth management needs across various market scenarios. The bulk of these investments were made via relationship managements channels underlining how we offer our clients the best of both worlds, high tech and high touch. We continue to support our wealth clients with their strategic needs and expect to see further inflows into fixed income in light of continued volatility," said Angel Ng, Head of Citi Global Wealth Asia
In late May Citi reached out to clients via its global Bonds are Back theme. The bank's over 2,000 RMs and Private Bankers in the region underlined the attractions of quality fixed income investments in bonds with rates now significantly higher and the expectations for increased volatility to help protect the purchasing power of cash.
Of the US$5bn or so invested across the bank's platform, the bulk has been in fixed income funds including individual bonds or bond funds with a focus on investment grade high quality corporate bonds.
Private bank clients have also invested in hedge funds with a fixed income focus and also various fixed income structures.
The main investment currency of choice has been the US dollar. The major booking centres were via the bank's wealth hubs in Hong Kong and Singapore.
Citi Global Wealth in Asia has around US$200bn in client AUMs and over 2 million clients across its Citi Global Wealth franchise in the region.
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