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Paul Feeney, head of international distribution at BNY Mellon, said the funds were still in the planning stage, but that the company was "certainly looking for some new offshore products" for its international range.

"One we're really looking at is the Real Return fund, which has seen a lot of inflows," he said. "The fund is basically a globally diversified portfolio with a simple options strategy over the top to protect against major downside risk – not small falls in the market, but more major falls.

"It has a superb, consistent track record. Even last year, it produced a return just shy of 5 per cent, which is nothing to write home about, but when the markets were down as much as they were in 2008, that's very good.

"We're looking to launch an international version of that."

Mr Feeney said BNY Mellon was also considering an expansion of its diversified credit range.

"We're looking at European corporate bonds and European high yield," he said. "It's quite a liquid market given its breadth, which also includes the UK corporate bond market, so it's more diversified. We haven't made a final decision there, but we are looking at it."

The European Corporate Bond, European High Yield and Global Real Return funds would all be domiciled in Ireland, he said.