Argus Financial Limited (AFL) is now expanding its business focus from pension funds to lending its investment expertise to local, international private clients, corporations and trusts.

AFL is a joint venture between the Argus Group and Cidel Financial Group, established in June last year.

In October 2005, AFL set up a mutual fund company, Argus Investment Strategies a portfolio of funds currently managing $161 million.

?It has always been our intention to offer financial services beyond the Argus Group. The performance of this product has been very good and based on its success we are opening our doors to private individuals, corporations and trusts,? AFL chief operating officer Henry Perren said.

?Our initial focus will be on the Bermuda market but through our relationship with Cidel we expect to have offshore clients.?

Mr. Perren said the investment philosophy of AFL was based on capital preservation, long term absolute returns and taking a consistent and disciplined approach to investing based on sound analysis and independent research.

AFL president and CEO Gerald Simons said: ?It has been nearly 50 years since Argus started to manage the financial aspect of individual companies when we formed Bermuda Life Insurance Company in 1957.?

?Since 1995 we have had pension plans dependent on the value of underlying shares held in a number of mutual funds and we have used outside independent advisors to assist us in this area.?

?We decided the time had come to bring that service in the Group and join up with a business partner to assist us in making our services available to the private market at large.?

In order to help the company expand its investment service, AFL this month welcomes two qualified, experienced investment professionals to the organisation. Bermudians Martha Harris Myron and Julie Ann Hendrickson join AFL as Senior Relationship Managers.