British fund manager Schroders has teamed up with banking group Citi to roll out a bespoke Discretionary Fund Management (DFM) service for the latter’s Citigold customers.

The service can be availed by these mass affluent clients across the UK as well as select international markets.

It will be delivered via Schroders’ UK wealth management unit Cazenove Capital.

Cazenove DFM head Nicolas Georgiadis said: “Our attitude to managing our clients’ wealth is measured and intelligent, and we look forward to working with Citi to deliver strong risk-adjusted returns while maintaining a consistent focus on preserving wealth.” 

The customers of Citi can now tap Cazenove’s broad DFM offering in sterling, euro and US dollar.

The bank’s relationship managers will be responsible for evaluating risk profiles and financial goals of clients. Cazenove will help create an asset allocation strategy for portfolios matching individual needs.

Schroders Strategic Partnerships director Alexander Ross-Parkinson also welcomed the strategic partnership, saying that it will offer customers a “compelling wealth management solution”.

Schroders in the news

The year 2020 has been busy for the UK fund manager.

In October last year, Schroders Personal Wealth – a joint venture of Lloyds and Schroders – partnered with Artesian Solutions to reimagine wealth management for the next generation of investors.

Last September, Schroders inked a deal to buy London-based £2.2bn family office Sandaire to strengthen its wealth management offerings for UHNW clients.

The acquisition closed last month, with Sandaire becoming part of Cazenove Capital

Meanwhile, last year, Schroders reportedly also became the first major financial services firm in London to make remote working permanent after the Covid-19 crisis by ending the usual nine-to-five working arrangement.