Bank of America Corp. has added a portfolio to its proprietary Nations Funds family.
The Nations Marsico 21st Century Fund, introduced April 10, is an all-cap, aggressive-growth fund. At any given time, the fund is to have investments in 35 to 50 companies that are using information technologies.
The fund is advised by the Charlotte, N.C., banking company's Banc of America Advisors Inc. subsidiary and is subadvised by Denver-based Marsico Capital Management LLC, which subadvises two other Nations Funds portfolios.
Bank of America owns 50% of Marsico, which manages $16 billion of assets, including $4.6 billion in mutual funds. The Nations Funds comprise 65 portfolios and have $85 billion of assets under management.
- Amy L. Anderson