Wealth briefs

Merrill fund offers clients access to elite managers

Merrill Lynch has launched a new suite of investment funds for wealthy, non-US clients, allowing them access to external managers previously available only to institutional investors. Merrill Lynch Global Selects Portfolios has been structured as a multi-compartment fund, registered in Dublin under European Union Ucits legislation for cross-border marketing. “This multi-currency investment offering provides access to some of the world’s top-tier investment managers, a choice of investment styles as well as Merrill Lynch’s global resources,” commented Raymundo Yu, head of Merrill Lynch’s Global Private Client group for Europe.

Brainpower brings specialism to Germany Inasys Gessellschaft fur Informations – und Analysesysteme, a German provider of portfolio management systems, has teamed up with Swiss portfolio analytics specialist Brainpower to offer a combined investment platform for German savings banks. The new service, announced at the CeBIT information technology fair in Hanover, is aimed at financial institutions that wish to develop managed investment strategies.

Exit of Chambers forces Gartmore to review top tier Peter Chambers, one of the driving forces behind reshaping a flagging investment process, resulting in improved performance, at cross-border investment house Gartmore, has resigned from the group. Mr Chambers’ resignation from the post of global chief investment officer has resulted in a senior re-shuffle, described by the company as a strengthening of “investment leadership.” Roger Bartley will now be overall chief of fixed income and Young Chin will run equities.