Sanwa Bank California plans to call its proposed family of mutual funds "the Eureka Funds."
Eureka, which also is California's state motto, was chosen for its broad appeal to retail and institutional investors within and outside the state, chief investment officer Richard Weiss said. The Greek word, which means "I have found it," is also the name of a city in Northern California.
Los Angeles-based Sanwa, the state's fourth-largest bank, registered five no-load funds last month with the Securities and Exchange Commission. Pending approval, the bank plans to offer the funds in late fall.
The family includes an equity fund, a global asset allocation portfolio, a bond, and two money market mutual funds.
Mr. Weiss said he hopes the mutual funds will help the bank expand investment services beyond its base of trust clients, for which it manages about $2 billion of assets.
"Sanwa, given its reach around the world, has an incredible amount of potential for distribution," he said.
Sanwa Bank of California is an $8 billion-asset subsidiary of Osaka- based Sanwa Bank Ltd., the world's sixth-largest banking company.