A new funds platform domiciled in Ireland has been launched by Bank of America Merrill Lynch.
BofAML Invest Funds Plc was approved by the Irish regulator in August 2010. BofAML decided to launch its first Irish UCITS platform in order to increase its flexibility and speed in bringing structured funds to market, and to broaden and deepen its distribution capacity in the UK where some investors prefer an Irish structure.
Three sub-funds have already been launched from the platform and the investment bank expects to launch at least five more sub-funds in the first quarter of 2011.
BofAML Invest Funds is designed as a cross asset structured fund platform focused on products providing exposure to proprietary