Citi Markets & Banking has announced the addition of Offshore Money Market Mutual funds from nine fund managers to its award winning Citibank Online Investments portal in Europe. Citi's cash management clients can now invest in more than 25 funds in Euros, Sterling and U.S. dollar through a single channel making it easier and more efficient for companies to manage their liquidity.
Citibank Online Investments is a global, secure, Web-based investment service accessible via CitiDirect Online Banking, Citi's web-based cash management system and TreasuryVision, Citi's award winning information and analytics service. The 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 U.S. 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.
Mark Beard, Head of EMEA Liquidity and Investments for the Cash Management business at Citi, says, "With the addition of offshore fund capabilities to Citibank Online Investments, we are providing institutional investors with many benefits, making investing cash an integral part of their overall cash and liquidity management process. Companies are looking to manage their cash in a comprehensive way, and our portal integrates the investment process into the client account structure, cash flows and our cash management systems for comprehensive, one stop cash management."
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, unlike most other portals on the market. Information required to research money market fund alternatives is readily available online and new accounts can be set up in real time. Additionally, investors can invest in time deposits with Citi - providing a wider choice of instruments through a single portal.
Andrew Plenderleith, EMEA Product Manager of Citibank Online Investments, says, "More clients are using a portal for their investments - industry surveys indicate this usage will likely increase. Few portals directly integrate with an institutional client's cash management processes the way we have combined Citibank Online Investments with both CitiDirect Online Banking and TreasuryVision."
Citibank Online Investments underscores Citi's commitment to integrating all aspects of cash management to help clients achieve end-to-end treasury management. With the addition of offshore Money Market Funds, Citi continues to solidify its leadership as the premier provider of money market fund portals. In addition to the wide range of available investment funds, Citi's portal provides institutional clients with improved features for ease-of-use, security and reporting including:
- Choice and Visibility - Large number of funds plus fund information including yields, ratings and links to prospectuses
- Simplified Settlement - Single agreement for all fund families and the ability to set-up a new fund account online immediately when ready to invest
- Automatic Settlement - No separate wires required, reducing cost and errors
- Access and Control - Improved security to safeguard the investment process plus one-statement reports showing account position with accrued dividends and consolidated monthly statements across all money market funds
Source: Citigroup
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