The asset management company has roped in Citibank to market its latest offering on the basis of Citibank's existing technology platform in India and its global expertise.

Customers can open an investment account with Rs 50,000, set up an automated systematic investment plan to match their personalised financial plan and receive a consolidated statement to keep track of their entire deposit and investment portfolio.

Customers will also have access to 24-hour 365-day investment transaction capability over the phone ranging from subscriptions, redemption and portfolio and NAV information. These services will be available at Citibank branches in New Delhi, Calcutta, Mumbai, Chennai, Bangalore and Pune.

"With the rapidly liberalising economy, our customersare looking to us for more than traditional banking products and to satisfy these customer expectations, we are broadbasing our product by leveraging the benefits of technology and innovative products to become true wealth managers of the customer," said Ashoke Dutt, global consumer bank head for India.

Citibank, through its earlier partnership with Alliance Capital,heralded the use of technology to provide value-added banking features to mutual fund investors. Citibank's distribution of Alliance Capital's latest product -- Alliance Equity Fund -- follows the successful distribution of Alliance Liquid Income Fund and the Alliance '95 Fund.

Alliance Capital is an affiliate of Alliance Capital Management, a leading global investment manager with assets under management of over $248 billion as of March 31, 1998.

The Indian arm, which was incorporated in 1994, is the asset management company of Alliance Capital Mutual Fund. As of June 30, 1998, it managed or advised on approximately Rs 536 crore in assetsinvested in Indian equity and fixed income markets. The AMC currently manages four schemes.