The Bank of Bermuda has launched two new funds to extend the operations of its flagship investment vehicle - the All Points Multi-Manager (APMM). The new US Large Cap Value and Global Themes portfolios will be open to investors from 23 August, 2001 with front-end load fees to be waived for trade dates: 23 August, 30 August, 6 September and 13 September this year.
The Global Themes portfolio aims to invest in identifiable themes driven by technology, demographics and globalisation. Investments will cover a variety of geographic areas and a thematic process will be applied to portfolio construction and stock selection. The US Value portfolio will seek to identify the stocks currently undervalued by the market but which have strong earnings potential and opportunity for future growth.
In a statement released by the Bank, Brian Boyd, General Manager of Mutual Fund Services, declared: 'As part of our on-going commitment to provide quality investment products, we are pleased to announce the creation of the US Large Cap Value and Global Themes portfolios. Our new options provide our clients with even greater flexibility, and serve to round out the overall product offering, a real benefit when markets are as volatile as they are at the moment.'
The new funds will be supported by the investment and advisory expertise of Victory Capital Management and Nordea Investment Management respectively. Sebastian Dunn, Head of the Bank's Investment Management Research department, commented, 'both Victory Capital Management and Nordea Investment Management emerged from this process as the best in their field and we are pleased to have them as a part of our All Points Multi-Manager offering.'
Mr Boyd added: 'We really have a robust and high quality investment vehicle in APMM. This fund offers complete portfolio construction or allows clients to select only those funds suited to their individual investment goals and objectives. These are top quality funds from the world's best investment advisers and in many cases, clients are only able to access this opportunity through APMM.'
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