The launch of Legg Mason Global Funds mark the first partnership of Legg Mason with a bank in China, and represents the first Qualified Domestic Institutional Investors (QDII) offshore mutual funds launch in 2008 by any bank in China.
Anand Selva, executive vice president of Citibank China, said: Citibank is pleased to be consolidating our leadership in the mutual funds area after becoming the first bank in China to offer direct open-ended offshore mutual funds under the QDII scheme last year. Now we house the largest number of offshore mutual fund offerings of any bank in China. Our partnership with Legg Mason, one of the world’s largest asset managers enables us to provide our Chinese customers with a new long-term investment option.
