Merrill Lynch Investment Managers
has added more variable insurance funds to its Mercury Advisors
nameplate. The move is part of MLIM's push to offer funds through non-proprietary channels. The six new offerings were rolled out in December of last year, according to MLIM officials.
In the past, Merrill had sold its funds exclusively through its in-house broker force. In the past two years, however, it has made moves to add outside distribution for its product line.
The six variable insurance funds are being marketed as part of MLIM's Mercury Advisors variable offerings.
"The insurance channel is an important one for MLIM and a focus for us as we look to grow our non-proprietary distribution business," said Daniel Dart
, chief operating officer of MLIM's non-proprietary distribution business in the Americas. "The success we've had in the insurance channel prompted us to expand our product offering and try to better leverage the Mercury brand."
Mercury Advisors now offers 22 variable insurance funds.
The new variable insurance funds include: Mercury Equity Dividend, Mercury Global Small Cap, Mercury International Index, Mercury Low Duration, Mercury Mid Cap Value Opportunities and Mercury Small Cap Index.
Stay ahead of the news ... Sign up for our email alerts now