SSB Citi Asset Management Group, the money management division of Citigroup, announced the launch of 11 new index funds. The new offerings are the first no-load index funds ever to be introduced by SSB Citi, which has two other U.S. mutual fund brands - Smith Barney and Salomon Brothers - that are load-fund families.
Fund name |
Benchmark Index |
Expense ratio |
Citi S&P 500 Index Shares |
S&P 500 Index |
0.34%
|
Citi US 5000 Index Shares |
Wilshire 5000 Index |
0.48%
|
Citi US 1000 Index Shares |
Russell 1000 Index |
0.50%
|
Citi Small Cap Index Shares |
Russell 2000 Index |
0.55%
|
Citi Nasdaq-100 Index Shares |
Nasdaq-100 Index |
0.55%
|
Citi International Index Shares |
MSCI EAFE Free Index |
0.65%
|
Citi Global Titans Index Shares |
Dow Jones Global Titans Index |
0.60%
|
Citi Technology Index Shares |
Goldman Sachs Technology Index |
0.75%
|
Citi Financial Services Index Shares |
Goldman Sachs Sector Index - Financials |
0.75%
|
Citi Health Sciences Index Shares |
Goldman Sachs Sector Index - Healthcare |
0.75%
|
Citi US Bond Index Shares |
Lehman Brothers Aggregate Bond Index |
0.40%
|
Source: SSB Citi Asset Management Group
SSB Citi said that it is aware that many fans of indexing prefer the do-it-yourself nature and ease of online transactions. With this in mind, SSB Citi launched a new online investing site, www.mycititrade.com, where the new funds will be available with no service charges. The site also has a prospectus that provides information about the funds in the new CitiFunds Index Series listed above.
"For those investors who prefer to invest all or a portion of their assets directly in mutual funds without sales charges, these funds together with Cititrade offer convenience, low-cost, and a wide range of investment choice," said Laurie Hesslein, Head of U.S. Mutual Funds at SSB Citi.
SSB Citi also announced that it has inked a license agreement with Fortune to launch two new index funds based on the Fortune 500 and Fortune e-50 stock indexes. The new funds will have expense ratios of 0.43% and 0.75%, respectively, and will be launched on November 27.
"We feel the Fortune 500 and Fortune e-50 indexes are powerful benchmarks for investors who desire exposure to large-cap stocks and promising new economy stocks," said Thomas W. Jones, CEO of SSB Citi.
Index Fund Advisors, Inc. (IFA) is a fee-only advisory and wealth management firm that provides risk-appropriate, returns-optimized,
globally-diversified and tax-managed investment strategies with a fiduciary standard of care.
Founded in 1999, IFA is a Registered Investment Adviser with the U.S. Securities and Exchange Commission that provides investment
advice to individuals, trusts, corporations, non-profits, and public and private institutions. Based in Irvine, California, IFA manages
individual and institutional accounts, including IRA, 401(k), 403(b), profit sharing, pensions, endowments and all other investment accounts.
IFA also facilitates IRA rollovers from 401(k)s and 403(b)s.
To find out more about the value of IFA
click here.
To determine your risk capacity, take the Risk Capacity Survey.