Citibank Hungary Partners BNP Paribas To Expand Investment Portfolio

Published: 19-Mar-2010

Citibank Hungary has partnered with BNP Paribas Asset Management to expand investment product offering by providing enhanced opportunities to its customers and helping them establish well-balanced investment portfolios.

The Euro and USD denominated mutual funds of BNP Paribas Asset Management available at Citibank consists of commodity funds: Parvest Agriculture (Euro, USD) and Parworld Track Commodities (Euro); equity funds: Parvest Europe Financials (Euro) and Parvest Turkey (Euro); Protected funds: Parvest Step 90 Euro (Euro) and Parworld Emerging Step 80 (Euro); money market and bond funds: Parvest Short Term Dollar (USD), Parvest Short Term Euro (Euro); Parvest Euro Government Bond (Euro).

The 10 new mutual funds of BNP Paribas Asset Management Fund House bring to a total of 12 Citibank partners and 169 mutual funds distributed by Citibank to its customers.

The mutual funds will be available through Citibank branches and after conclusion of the master agreement on investment services through CitiPhone Banking telephone customer service. The minimum investment amount required is EUR1,000 or $1,000 and Citibank will apply a transparent fee structure.

Batara Sianturi, country officer of Citi at Citibank Hungary, said: “As a result of the continuous enhancement of our product offering, Citibank provides one of the widest range of investment products in the market. It allows our customers to easily develop their own portfolio with the assistance of our personal bankers.”

Omar Baig, retail business manager of Hungary at Citi, said: “The portfolio tracker that we introduced last year provides customers clear and easy access to information platform showing their Citibank investment portfolio, allowing customers and personal bankers to easily monitor portfolio performance and prepare for any required steps for diversification.”

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