Merrill Lynch launches sector funds

Merrill Lynch Investment Managers is spinning out six new sector funds, capitalizing on the growing craze for thematic rather than geography-based investing. Asia is not a prominent part of this roll out, however: only in Hong Kong will the new funds be available, as opposed to a long list of European jurisdictions. The funds will be managed out of London and Princeton, New Jersey.Merrill Lynch as a group is promoting sector investment in a big way. Earlier this year, the firm helped …