CitiFirst, the retail structured product division of Citigroup, has pushed back the launch of its first open-ended fund, blaming platforms for the delay.
CitiFirst has extended the closing date by over one month to 7 April, from the original 1 March. Emma Davidson, director and head of UK retail structured product sales for CitiFirst, says the primary reason for delaying the launch is the intransigence of the bigger platform providers. "Despite very strong support for our UK Autocall fund, we have been surprised at the sluggish nature of some of the biggest platforms when it comes to onboarding the fund," she says. "We believe we will have made good progress by the launch date of our debut fund, but in the meantime we are enjoying v...
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