The Bank of Bermuda said a multi-manager fund it developed will now be made available globally through the vast network of its new parent, multinational banking giant HSBC Plc.

The development was said in a Press release to be a positive move for local customers who can expect the fund under HSBC managers to benefit from reduced costs, enhanced fund administration, and expanded research capabilities. A name change is also in the offing with ?All Points Multi-Manager? being swapped for ?HSBC Investment Solutions?. This is set to take place in the coming weeks.

The release added that the bank?s development of this ??manager of managers? open architecture structure? of the product has fast been become a leading trend in investment circles, and one which the HSBC network is embracing with open arms.

Head of HSBC Investments Bermuda, Gonzallo Jalles, said: ?HSBC?s attraction to Investment Solutions reflects the innovation and quality of this product; it is a real credit to the Bank of Bermuda team.

?The HSBC network will bring unprecedented distribution channels and capabilities to help ensure the continued growth and success of this highly-regarded investment option,? he continued.