top performing offshore funds.

The "fund of funds'' is aimed at investors who are seeking long term capital growth but want to avoid the risks of investing in one particular region or market, according to a press release.

"All Points Fund of Funds is a collection of the world's top performing offshore funds,'' It provides the investor with a single access point to leading international fund managers and the opportunities they can provide.'' An investor will have a choice of putting money either in a fund that invests in bond funds or one that invests in equity funds. A minimum investment of $10,000 must be put into one or the other class of shares. "These invest in a portfolio of bond and equity-based funds which have performed at a superior level over a sustained period of time,'' the bank stated. "Exposure to risk is limited by investing in a minimum of five open-ended offshore collective investment schemes. Emphasis will be given to those fund selections that closely align with current economic trends and those fund management styles that complement and add breadth to the overall portfolio.'' Initial charges go up to a maximum of five percent depending of the amount invested. Until June 26 there will be no charge. The investment manager is the bank's London-based subsidiary Bermuda International Investment Management (Europe) Lad.

Bank of Bermuda senior vice president of investments, Wayne Chapman, said the new fund will be targeted at investors who want to preserve capital while going for a higher rate of return in a low-risk environment.

"Through our buying power and network of institutional relationships we aim to provide low cost access to a selection of the world's top performing funds, many of which would simply be out of reach with a $10,000 investment,'' he said. "Clearly, no single financial institution can dominate in every market or asset class. Essentially, what we are doing is amassing expertise. From there we will work with individual investors to design asset allocation strategies which maximise performance and best suit their investment portfolios.''