The Bank of New York Co. will begin offering four mutual funds to consumers this month.

The bank will advise the funds, to be distributed through its branches by a third party, said a Bank of New York spokesman.

The no-load, open-end funds, called Hamilton Mutual Funds, are the first that Bank of New York has offered.

They consist of an income equity fund, which will invest in common stock and convertible securities issued by U.S. corporations; an intermediate government securities fund, which invest in U.S. government-issued or -guaranteed obligations; an intermediate tax-exempt fund investing in New York State and Commonwealth of Puerto Rico bonds; and a money fund for institutional investors, which will invest in government agency obligations, among other instruments.

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