Multi Manager investment product -- clearing it for launch yesterday.

The launch period will continue until May 14 bond and equity portfolio product -- and during that time front end load fees will be waived.

But a minimum investment of $25,000 is required per portfolio and the Bank recommends "in order to create a balanced portfolio clients should be looking to invest not less than $100,000'' to buy into at least four sectors.

A statement from the Bank of Bermuda said the product was a new direction in asset management.

The new product aimed to provide clients with "consistently superior returns over the long term by accessing an unbiased selection of outstanding investment managers covering the world's nine core investment sectors''. All Points Multi-Manager is structured as an umbrella investment company that qualifies under the UCITS directive which should facilitate distribution in Europe where the Bank of Bermuda has a growing private client base.

The Bank screened more than 600 investment managers to find reputable firms which demonstrated carefully managed risk profiles as well as sustained above average returns for at least five years.

Participating managers will be monitored and evaluated.

They include Alliance Capital, Warburg Pincus, Schroders, Bridgewater Associates, J.P. Morgan, BlackRock Financial, Baring Asset Management, INVESCO GT and Global Asset Management.

Bank of Bermuda senior vice president Wayne Chapman said yesterday the bank would give investors access to top investment managers some of whom were not normally available to private clients.