Chase Manhattan, Investia Form Market Fund Network

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Chase Manhattan, New York and London-based financial e-commerce firm Investia agreed yesterday to launch an online mutual fund network, FundsHub, later this year.

The new venture would offer outsourcing services to insurers, pension funds and banks throughout Europe. FundsHub will be a one-stop shop for investors looking for a wide-range of mutual funds or unit trusts as they are called in Europe. Prudential Internet bank, Egg, launched a similar service recently.

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