Berger Associates and Bank of Ireland Asset Management (U.S.) formed a joint venture to launch international and global mutual funds. The joint venture, BBOI Worldwide, will be based in Denver and will be owned in equal parts by both partners.
BBOI Worldwide will offer no-load funds to retail and institutional markets, starting with an international equity fund to be launched in the third quarter. Bank of Ireland will manage the funds, which have not yet been named. Berger will handle distribution and marketing.
The next product most likely will be a global equity fund, said Denis Curran, president of Bank of Ireland Asset Management. Further down the road, Bank of Ireland also has global fixed income, global balanced and emerging markets capabilities that could be possibilities for expanding the fund family.