MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, August 15, 2000 Merrill Unveils Mercury Funds Merrill Lynch is rebranding its fund business sold through third parties. The brokerage firm said today that it is forming Mercury Funds under Merrill Lynch Investment Managers to be the new brand for what was formerly Mercury Asset Management, Hotchkis and Wiley and Quantitative Advisors along with two funds sub-advised by Turner Investment Partners. The change will only apply to the firm's U.S. business, said a spokesperson. Mark Cone, managing director, will head the new brand. Mercury Funds starts life with 25 funds and more than $6.5 billion in assets under management. Merrill expects complete the transition to the new brand by the end of the third quarter. Mercury Funds will be offered to independant advisors and brokers. The move allows the brokerage giant to eliminate the clutter of non-Merrill brands and offer a non-threatening product outside its captive distribution channel. For example, the Hotchkis and Wiley Total Return Bond Fund will now be called Mercury Total Return Bond Fund. "This single, powerful brand name will enable us to penetrate new markets and distribution channels more quickly and efficiently," Cone said. "The establishment of Mercury Funds is a crucial element of the new branding strategy announced by Merrill Lynch Investment Managers earlier this year," added Cone. "By uniting these funds under the Mercury banner, we are simplifying our menu of investments for the independent advisor and broker and their clients. We are committed to bringing innovative products to market, providing proprietary research and developing value-added sales programs." Printed from: MFWire.com/story.asp?s=25861 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |