U.S. investors are getting a chance to sample some new funds with an international flavor.
Merrill Lynch & Co. is taking subscriptions for a new global growth fund; Orbitex Management Inc. launched two Asian funds this week. And last week American Century Investments rolled out an Emerging Markets Fund.
The Merrill Lynch Global Growth Fund will focus on mid- to large-cap international companies, said a Merrill spokeswoman. The fund, which should be launched at the beginning of November, will be managed by Lawrence Fuller, she said.
New York-based Orbitex launched an Asian High Yield Fund and an Asian Select Advisors Fund on Monday.
The high-yield fund will focus on securities in Asia; the Select Advisors Fund is a multi-adviser equity fund with an Asian focus.
The companies will be from less-developed Asian countries and therefore will exclude Japanese stocks, said Andy Olear, Orbitex executive vice president and national sales and marketing manager. "Japan has gone through what the other countries are going through now," he said.
The Asian High Yield Fund will be managed by Eduardo Cortes, from J.P. Morgan Investment Management, a subadviser.
The Select Advisors Fund will be managed by a team from subadvisers Bankers Trust Fund Managers International Ltd. in Sydney, Australia, and Asia Strategic Investment Management Ltd. in Hong Kong.
The Twentieth Century Emerging Markets Fund that Kansas City, Mo.-based American Century launched last week will invest in large and small companies in developing markets as well as companies whose principal markets are in emerging countries.
The fund will be co-managed by Mark Kopinski and Michael Donnelly.
Orbitex also launched three other funds this week: Orbitex Asian Select Advisors Fund, Orbitex Info-tech and Communications Fund, and Orbitex Growth Fund.
And American Century rolled out the Benham High-Yield Fund last week.
