Five new funds from international banking giant HSBC Plc are now available to local investors through the Bank of Bermuda.

The funds have become available following the Bank of Bermuda becoming a part of the HSBC network in February 2004, after a $1.3 billion takeover bid was approved by bank shareholders.

The five funds are the UK Growth Fund, the UK Bonus Income Fund, the Japan Bonus Fund, the Asia Opportunity Fund and the Global Commodity Income Fund, which are branded together as HSBC's 'New Generation' of funds.

The funds, a part of HSBC's Capital Secured Growth Series, offer one more opportunity for local investors to take advantage of the breadth of investment products offered by the HSBC Group, the bank said in a statement.

For the first time, the funds offer a choice of three or five-year investment terms and are designed to return an investor's capital, plus interest, on the investment's maturity date.

Investments in the fund can be made up to September 26, although the funds can be closed earlier if interest is greater than the fund's maximum investment potential.