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Citigroup Private Bank - Asset allocation

By Durraj Tase, Head of Capital Markets

Capital markets ideas for the $20-million investor

Investors today face a financial environment that is uncertain and volatile. While global growth is seemingly emerging after the recessionary phase of the last few years, there is tremendous uncertainty. Geo-political and terrorism worries continue while oil prices are at high levels.

Given this backdrop, high net worth individuals may feel frustrated by what they perceive as lack of viable investment alternatives. After a series of double-digit portfolio returns in the early to mid 1990’s, it is hard to feel good about relegating assets to low income time deposits.

But there are opportunities. High net worth investors have the ability to access product specialists for tailored principal protected structures in many underlying markets.

Citigroup Private Bank is currently (May 2004) particularly bullish on commodities and private equity and have several alternatives when it comes to gaining exposure to these markets.

In a world of low returns, we believe the bulk of expected performance should come from active management.

Investment ideas:

FOREIGN EXCHANGE

The U.S dollar has been weakening for the past 18 months. Private clients have been investing in the higher yielding currencies such as the Australian dollar, Sterling pound and New Zealand dollar.

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