Citi has seen strong demand in Asia for fixed income with its wealth management clients in the region investing close to $5 billion in bonds over the last three months.
Asia Pacific clients at Citi Global Wealth (CGW) have invested nearly $5 billion in bonds in the last three months, according to a statement, following a call in May for the return of the asset class due to rising market risks and interest rates.
Most of the investments were in fixed income funds including individual bonds or bond funds with a focus on investment grade, high quality corporate bonds. Private banking clients also invested in fixed income-focused hedge funds and various fixed income structures. Investments were mainly US dollar-denominated and booked in the bank’s regional wealth hubs in Hong Kong and Singapore.
«The bulk of these investments were made via relationship management channels underlining how we offer our clients the best of both worlds, high tech and high touch,» said head of CGW Asia Angel Ng. «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.»
Within the region, CGW has around $200 billion in assets under management and 2 million clients. It houses over 2,000 relationship managers and private bankers serving clients across the full range of segments from affluent to high net worth individuals.
