Bank of Boston Adds Growth, Florida Tax-Free Funds to Its Line Bank of Boston Corp. is filling in the gaps in its mutual fund lineup with the addition of two portfolios.
Within the next few months, the banking company will launch a growth fund and a Florida tax-exempt income fund, pending approval from the Securities and Exchange Commission.
"We've had a lot of demand for these funds," said Allen W. Croessman, director of retail marketing and investment services for Bank of Boston. "There was a real void in our family until now."
Bank of Boston already manages $2.6 billion of mutual fund assets spread across 13 portfolios. But most of the funds have relatively conservative investment objectives, Mr. Croessman said.
The new growth fund will cater to investors willing to tolerate more risk in the stock market. The tax-sheltered Florida fund will primarily serve Bank of Boston's Florida customers, many of whom will have their trust assets moved into the new fund, Mr. Croessman said.