Citibank, the financial services group with US$257 billion in assets, has launched three unit trusts for investors seeking varying degrees of risk. CitiSelect Portfolios are US dollar-denominated and available for a minimum $10,000 investment. CitiBank will allocate asset classes but delegate fund management to outside houses. Warren Rangan, Citibank Asia-Pacific director of investment funds, said fund managers' performance would be monitored, while 'crucial asset allocation functions . . . will be handled by Citibank'. 'We will also continually monitor the performance of every fund manager. 'The Crucial asset allocation functions . . . deciding how much to put into equities versus bonds versus cash, will be handled by Citibank.'