HONG KONG Citibank is offering class B shares of 50 mutual funds in three fund complexes for investors here.
Class A shares, which have a front-end loads, are sold widely in Asia, but Citibank is the first retail bank to offer class B shares to investors there. Buyers of the class B shares pay a back-end load on a sliding scale starting at 4% if they hold them for less than four years.
The funds are from Invesco Asset Management Asia Ltd., Janus International Ltd., and New-Alliance Asset Management.
