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Mellon Bank starts offshore fund family


Mellon Bank Corporation of Pittsburgh and its mutual fund company, the Dreyfus Corporation, announced the start of a new family of offshore funds based in Dublin, Ireland. The fund family, Dreyfus Global Funds, plc, will be composed of four funds: The Cash Plus Fund, U.S. Treasury Fund, Deutsche Mark Fund and Sterling Fund. The funds are not available to U.S. or Irish citizens.

The Cash Plus and U.S. Treasury Funds will invest in short-term securities denominated in U.S. dollars, while the Deutsche Mark Fund and Sterling Fund will invest primarily in short-term securities denominated in German marks and British pounds, respectively.