LAHORE - The Citibank has announced the launch of the distribution of mutual funds managed by KASB Funds Limited through its 23 branches network. Aftab Ahmed, Country Business Manager, Global Consumer Group, Citibank N.A. Pakistan said: "We have a strong commitment to provide our customers with innovative solutions that address their needs. Our alliance with KASB contributes towards this objective as it enables us to provide our customers with a broader range of investment options. At Citi we offer our clients new products & innovative services as Citi never sleeps" Commenting on this occasion, Naz Khan, CEO of KASB Funds Limited, added "Our aim is to provide investment opportunities and solutions to the public at large. In a market where savings have traditionally been diverted towards the banking sector or the government, and where inflation is a concern, mutual fund investments offer an attractive alternative which the investors need to know about. We, therefore, look forward to reaching out to potential investors through this relationship with Citi." Under the alliance, two open-ended mutual funds offered by KASB Funds Limited are available for distribution by Citibank, N.A. Pakistan on a non-exclusive basis. These funds are KASB Liquid Fund which invests in debt-instruments and short-term money market instruments and KASB Stock Market Fund which invests in equity market are It may be noted that Citibank, N.A. Pakistan's role will be limited to the extent of performing the distribution function without providing any advice to the prospective investor in respect of the investment products. KASB Funds Limited is the asset management arm of the KASB group, with over PKR 11 billion under management in three funds. Its institutional shareholders include the KASB Group and BlackRock Inc., one of the largest asset managers in the world. The KASB Group has grown over the years to include, under its umbrella, KASB Securities, KASB Capital and KASB Bank besides KASB Funds Limited. KASB Funds Limited has been assigned rating of AM3+ while KASB Liquid Fund holds a 5 star rating by Pakistan Credit Rating Agency. Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citi's trademark red arc include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex.