Merrill Lynch Investment Managers is introducing a range of global sector funds with the aim of helping investors spread the risks of boom-bust cycles.
The World Sector Series includes six new funds as well as two established funds and forms part of the Luxemburg-based Mercury Selected Trust Sicav.
The six new funds cover energy, financials, health science, technology, telecoms and utilities and are designed to complement the existing gold mining and mining funds.
The range is designed so a proportion of the funds will be performing well at any stage of the economic cycle.
The World Sector Series is available to offshore investors and is actively managed by staff in London and Princeton, New Jersey It is denominated in dollars, with the euro as a second dealing currency.
Managing director Graham Birch says: “Performance comparisons need to take into account that more and more companies are operating worldwide. Sector funds are therefore a logical next step in an age of increasing globalisation. They are ideal for investors who are convinced by the prospects for individual sectors and offer the opportunity for investors to diversify away from country-based asset allocation.”
Chase de Vere savings and investment manager Ian Millward says: “Having a good spread is the right way to invest. It is a way of investing we like and the sectors Merrill Lynch has chosen are all good drivers which are likely to perform well over the next 20 years.”