AIB Private Bank to Offer Multi-Manager Funds

Stephen Harris

25 January 2006

AIB Private Banking is to offer AIB Investment Mangers’ Multi-manager Managed Fund to individual investors as part of a special range of investment funds. The fund provides access to an overall portfolio of equity, fixed interest and property assets. The fund, currently value at over €174 million ($213 million), was launched in December 2003, and has hitherto been restricted to pension fund investors. It has so far returned over 37 per cent after fees and expenses. The fund is an authorised unit trust that chooses from a large universe of best in class global investment managers such as Schroders, INVESCO, Legg Mason and Merrill Lynch. "The Multi-manager Fund allocates its investments among a number of managers so that we reap the benefits of having the Fund managed by a diverse pool of skills and talent. This is also extremely important in controlling risk. "Furthermore, we constantly monitor how these investment managers are performing and if we believe that one manager is likely to outperform another, then the allocation to each can be altered accordingly. The success of this approach speaks for itself, with such a phenomenal return having already been achieved in the two years since its launch," said James Leen, Head of Product Management at AIB.