CitiFirst, the retail structured product division of Citigroup, is launching its first open-ended fund aimed at the UK IFA market - an autocallable structured product based on the FTSE 100.
The UK Autocall fund offers the potential for annual returns up to 9.25% along with a level of capital protection. In addition, the fund's assets are fully collateralised by G7 sovereign debt. For the first five year investment cycle, CitiFirst expects the autocall barrier to be 100% of the FTSE 100 starting level and the protection to be 50% of the starting level. The UCITs III fund does not payout to investors but reinvests any returns into a new autocall strategy. Emma Davidson, director and head of UK retail structured product sales for CitiFirst, the full service model for str...
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