Merill Lynch Investment Managers is betting on a new brand to help drive fund sales across the United States.

The company plans to unveil the new product in April, Financial News quoted Merill’s president and CIO Bob Doll as saying.

Merrill’s mutual funds sold through other broker-dealers and banks are among the firm’s fastest growing products, posting a 42% rise in value to $20 billion in the first nine months of the year.

Although the company sells majority of its products via its own distribution network, it acknowledged the huge potential in selling through third parties.

The new product, Doll said, would be manufactured by Merrill, instead of through sub-advisory arrangements with other managers. Its name has yet to be decided on.

Citing the merits of coming out with a product without the Merrill brand and bull logo, Doll told Financial News: "We can continue to grow the Merrill lynch brand but you will have barriers in being able to take it as many places as you want." 

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