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Citi Private Bank has picked up for best investment performance generated from defensive portfolios at this year’s Private Asset Managers awards, which were hosted in London yesterday. The judges of the awards cited Citi’s “consistent and strong risk-adjusted returns for defensive investment mandates over the last three years, net of fees.”

Citi Private Bank serves some of the world’s wealthiest, most influential families and individuals. It manages over $374 billion in assets for its clients and has offices in 15 countries, although it serves clients across 139 countries.

The bank has a range of services for private clients, including managing assets in capital markets, managed investments (e.g. funds), portfolio management, trust and estate planning, investment finance and even art advisory.

What is a defensive mandate?

A wealth manager uses a defensive strategy to preserve your money, particularly during economic downturns or periods of market volatility. Defensive mandates are favoured by individuals and families that want to preserve their wealth rather than make spectacular gains. Such skills are prized by families which want keep multi-generational fortunes intact, while also yielding some income and conservative capital growth.

Defensive mandates also suit people close to retirement, or those who have already retired. They are people no longer concerned with building up their retirement funds with more aggressive investment tactics.

The Armchair Trader says:

Citi Private Bank is a well-established and highly recognised wealth management brand. It has the advantage of a global branch network which feeds into an international team of wealth managers. Part of its appeal to some clients is its ability to service them globally – it is not restricted to specific regions or localities. With many wealthy individuals now leading lifestyles in a number of countries, the bank’s ability to provide on the ground service when required is a big selling point.

However, ultimately clients will judge wealth managers not on how plush their officers are, or how shiny their VIP credit cards, but on their ability to preserve assets, or indeed build on them. There is nothing more galling than paying a bank money to lose you money. The ability to manage money effectively has to sit at the top of any individual’s shopping list when looking for a wealth manager.

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Stuart Fieldhouse

Stuart Fieldhouse has spent over 20 years in journalism and financial communications, including six years as a wealth management correspondent for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong.

Stuart has worked as head of content at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Stuart continues to work with hedge funds, private banks, stock exchanges and other financial institutions on their communications, data and marketing requirements.

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