BoI launch second phase of Financials Fund

Bank of Ireland Life has announced the launch of a second phase of its 'Financials Fund'.

Since its initial launch last November, the fund which was open to retail investors for nine weeks, took in over €25m in single premium investment.

The objective of the Financial Fund is to capitalise on the short-term opportunity created by recent stock market volatility within the global financial sector, enabling investors to acquire quality financial stocks at very attractive prices.

Bernard Walsh, head of investments, Bank of Ireland Life commented on the opportunity that the

Financials Fund presents investors: "The nature of stock markets is that shares are often over-sold or over-bought.

"Over the last number of months many financial shares have been over-sold and their prices currently reflect more bad news than actually exists in the market. In recent weeks, we have seen some of the biggest investors in the World take significant positions in financial companies.

"Strategic decisions such as these by canny investors should give us confidence in the opportunity that lies in this area."