Citi launches directors' fund with conviction

Citi’s Structured Products team launched, on June 29, its European Directors’ Insight Fund, the second sub-fund launched from its UCITS III fund platform, First Investment International Funds. The new fund is aimed at capturing the outperformance of companies that have been subject to significant director purchases. By July 13, the fund had taken in €65 million.

“Directors’ purchases are often overlooked by the market and can signal either potential corporate actions or that the stock is undervalued,” says Al Plattner, Citi’s Head of European Structured Sales.

Tracking the publicly declared investments of bank directors in Germany has already formed the basis of an Insider Dealers product launched by Commerzbank, but the Citi structure differs in that it offers the added value of data cleaning. The US bank has employed a team to collect data from 14

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