Hellenic bank in investment deal with Merrill Lynch

A DEAL has been struck between Hellenic Bank Ltd and Merrill Lynch Asset Management (MLAM) granting the bank the right to offer and distribute MLAM offshore mutual funds in Cyprus.

The agreement, announced yesterday, will grant Hellenic Bank clients access to 38 international money market, equity, and bond investment portfolios.

Merrill Lynch & Co is ranked as one of the world’s leading securities firms with client assets of over $1 trillion. MLAM, a wholly owned asset management division, is one of the largest global asset management services, with combined assets under management of nearly $450 billion.

MLAM investments will be available only to non-residents, repatriated Cypriots, offshore and overseas companies and approved investment and insurance companies.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.