Citi has devised an online calculator to help financial planners and investors alike calculate annualised returns for its Ucits-compliant Autocall Fund, launched this April. It works by taking into account daily market fluctuations, giving investors an accurate indication of the fund’s performance. “When we first launched, rather than have an active manager you’d have predefined returns,” Emma Louise Davidson, Director UK/IR Structured Sales, tells Hedgeweek. “When the fund’s NAV changed, people found it difficult to understand in terms of actual returns.” Like gilts, a falling NAV in Autocall produces a higher coupon. The launch of the calculator, then, helps investors avoid becoming bamboozled with fund dynamics by telling them the achievable returns at each auto call period. It should prove highly popular.