Citi Adds Offshore Money Market Fund Capabilities in Europe
Citi Markets & Banking has added offshore money market mutual funds from nine fund managers to its Citibank Online Investments portal in Europe. Citi’s cash management clients can now invest in more than 25 funds in euros, sterling and US dollar through a single channel. Citi says this will make it easier and more efficient for companies to manage their liquidity. Citi’s portal can be linked to accounts in 18 countries for money market investments in 16 currencies including several types of direct investments and money market funds, both in the US and now offshore. Institutional clients can go online to view rates, initiate trades and receive immediate confirmation of trades or choose to view information later through a trade inquiry screen. According to Citi, corporate liquidity investors are now able to manage their cash and investments through one application and automatically settle all trades against their operating bank account.