New Ireland will be including two "concentrated" equity funds as part of the fund range on its investment product due to be introduced in the new year.

Smart Stocks 15 and Smart Stocks 35 will be managed by Bank of Ireland Asset Management and will hold the leading stocks in its portfolio.

There will be no entry cost but there will be a management charge of 1.5 per cent per annum for amounts up to €100,000 (£787,564), or 1.375 per cent for larger funds. Early exit charges apply for the first five years of the investment.

Both funds will be available from January 3rd as "gross rollup" funds under the life assurance tax regime that comes into force next year.