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New Core Fund For All Points Multi-Manager
Launched in May 1999, APMM has performed well since its inception, with 9 of the current 13 portfolios ranked in the top half of their peers according to Micropal. The addition of the US Core Equity Portfolio to APMM provides investors with a middle ground between the existing US Large Cap Growth and US Large Cap Value portfolios. It will have no consistent growth or value bias in order to provide investors with "style neutral" large cap exposure to the US equity market.
"This new portfolio allows us to offer a core holding for new investors, and also additional diversification services to our existing Multi-Manager investors," noted Brian Boyd, General Manager of Mutual Fund Services. "The addition of the US Core Portfolio will enable investors to more effectively manage market volatility and style rotations in the US markets."
The US Core portfolio will be supported by the investment and advisory services of Wellington Management Company LLP. Wellington were chosen through the Bank's rigorous selection process. Candidates are graded and ranked according to business profile, investment performance and process, and intellectual capital and human resources, to ensure that only leading investment managers are selected for each portfolio. Once appointed, advisers are then closely monitored by the Bank to ensure client investments are protected.
"Boston-based Wellington Management Company emerged from our selection process as the clear leader," remarked Sebastian Dunn, Head of Investment Management Research, Bank of Bermuda. "Year over year Wellington have shown the ability to offer excellent risk adjusted returns and have demonstrated solid risk controls. We are very pleased that they are joining the APMM team. APMM was created to deliver access to best in class investment advisers while providing investors with a wide spectrum of asset classes, investment styles, geographical markets and industry sectors. We believe that the addition of the new US Core Equity portfolio is a key part of that delivery. We also believe that growing APMM underlines our commitment to continue helping investors achieve superior long term returns."