Pacific Century Trust, the investment unit of Bank of Hawaii, plans to double the number of equity mutual funds it offers.

The bank intends to add three equity funds in December to a lineup that now includes 12 portfolios, with $3 billion under management, said William J. Barton, chief investment officer at Pacific Century.

The new Pacific Capital funds would be the Value Equity Fund, the Small- Cap Equity Fund, and the International Equity Fund.

The company's equity lineup now consists of growth, growth and income, and Asia funds. The Asia Fund invests throughout the region except in Japan.

Despite volatility in global financial markets, "we think the timing is good" for launching an international equity fund, said Mr. Barton, who is a senior vice president. The fund will invest abroad in emerging as well as developed markets, he said.

Nicholas-Applegate Mutual Funds, a San Diego fund company, will subadvise on the international and small-cap portfolios, as it has on the Asia portfolio.

The new funds are meant mainly to round out Pacific Century's investment product lineup, Mr. Barton said. "The market has favored large-cap and growth over the last couple of years," he said. "We feel that small-cap and other styles will start catching up."

The launch is subject to approval from the Securities and Exchange Commission.

In an unrelated matter, Pacific Century is considering converting a $150 million balanced common trust portfolio to a mutual fund structure, Mr. Barton said.

A recent change in Hawaiian tax laws governing such conversions and the popularity of balanced funds are the driving forces, he said.

The conversion would not occur until the first quarter, Mr. Barton said.

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