Bank of Bermuda Ltd. yesterday announced the first HSBC product to be offered in Bermuda after the amalgamation with world?s second largest bank.

After Bank of Bermuda was bought out by HSBC for $1.3 billion in February, investors have been waiting eagerly for new savings and investment vehicles to become available on the Island.

But it has taken two months for the products to reach Bermuda?s shores, coinciding with the placement of the HSBC logo at the end of the Bank of Bermuda signs in branches around the Island and on company stationary. The new product will be two new mutual funds, the China Bonus Fund and the Selected World Growth Fund, which are part of the latest in HSBC?s International Capital Secured Growth Fund (CSGF) series and will be offered to Bermuda and global investors from 26 April 2004.

?Through our amalgamation with HSBC, Bank of Bermuda is now able to provide our local investors with exciting new sophisticated investment solutions,? said Phil Butterfield, the bank?s chief executive officer. ?This HSBC product offering will provide powerful investment tools for Bermuda?s investors. This is the first of many new product offerings that we hope to bring to the Bermuda community.?

David Lunn, investment centre manager at the Bank of Bermuda said that the HSBC fund products are specialised investment products that complement our core home All Points mutual funds.

Mr. Lunn added: ?The China Bonus Fund offers investors the opportunity to share in the emergence of China that stands on the verge of becoming one of the world?s most powerful economies. The Select World Growth Fund offers high growth potential in three leading stock market indices from USA, UK and Japan. This is a global opportunity that local investors must act upon quickly to secure a spot.?