Citibank, N.A. Pakistan on Friday announced the launch of the distribution of mutual funds managed by KASB Funds Limited through its 23 branch network. Aftab Ahmed, Country Business Manager, Global Consumer Group, Citibank N.A. Pakistan said: 'We have a strong commitment to provide our customers with innovative solutions that address their needs.
Our alliance with KASB contributes towards this objective as it enables us to provide our customers with a broader range of investment options. At Citi we offer our clients new products and innovative services as Citi never sleeps'.
Commenting on this occasion, Naz Khan, Chief Executive Officer of KASB Funds Limited, added `Our aim is to provide investment opportunities and solutions to the public at large. In a market where savings have traditionally been diverted towards the banking sector or the government, and where inflation is a concern, mutual fund investments offer an attractive alternative, which the investors need to know about. We, therefore, look forward to reaching out to potential investors through this relationship with Citi'.
Under the alliance, two open ended mutual funds offered by KASB Funds Limited are available for distribution by Citibank, N.A. Pakistan on a non-exclusive basis. It was pointed out that Citibank, N.A. Pakistan's role will be limited to the extent of performing the distribution function without providing any advice to the prospective investor in respect of the investment products. KASB Funds Limited has been assigned rating of AM3+ while KASB Liquid Fund holds a 5 star rating by Pakistan Credit Rating Agency.-PR
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