Sanwa Bank California's investment management arm will manage two new mutual funds for a Japanese investment firm in which Sanwa's parent has a big stake.

A U.S. bond fund and global equity fund were rolled out last week for Japanese investors by Tokyo-based Partners Investment Trust Management Ltd. Richard Weiss, senior vice president at Sanwa Bank California, Los Angeles, will be investment adviser for the funds.

Sanwa Bank Ltd., parent of Sanwa Bank California, owns 49% of Partners Investment Trust Management. Sanwa Bank California already manages more than $650 million of assets through its proprietary Eureka Funds, a family of five mutual funds offered in the United States.

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