The Bank of Bermuda has added a 14th fund to its flagship investment vehicle, All Points Multi-Manager (APMM).

The new US Core Equity Portfolio has been created to add diversification to the current US equity holdings in APMM.

It is open to investors from Thursday.

The bank says that APMM has performed well since being launched in May 1999, with nine of the current 13 portfolios ranked in the top half of their peers according to Micropal. The addition of the US Core Equity Portfolio to APMM provides investors with a middle ground between the existing US Large Cap Growth and US Large Cap Value portfolios.

“This new portfolio allows us to offer a core holding for new investors, and also additional diversification services to our existing Multi-Manager investors,” noted Brian Boyd, general manager of Mutual Fund Services.

“The addition of the US Core Portfolio will enable investors to more effectively manage market volatility and style rotation in the US markets.”

The US Core Portfolio will be supported by the investment and advisory services of Wellington Management Company LLP.