Fifth Third Bank Announces Name Change of Fund Family; Introducing the Fifth Third Funds!
CINCINNATI, Oct. 30 /PRNewswire/ -- Fifth Third Bank is pleased to introduce the Fifth Third Funds(R), a proprietary family of 16 stock, bond and money market mutual funds. Formerly named the Fountain Square(R) Funds, the Fifth Third Funds have assets of $4.5 billion. Fifth Third Bank is the advisor to the Fifth Third Funds. The name change comes soon after the Cardinal Funds, the proprietary fund family of The Ohio Company, were merged with the former Fountain Square Funds. The merger increased the fund family's asset size by $1 billion and created two new funds now named the Fifth Third Cardinal Fund and the Fifth Third Tax Exempt Money Market Fund. The Ohio Company was acquired by Fifth Third Bank earlier this year. "As investment advisor to the Fifth Third Funds, we are very excited to finally be able to give the fund family the Fifth Third name," states Michael K. Keating, Executive Vice President, Fifth Third Bank. "The fund family has significantly expanded since its creation in 1988 and we are excited about its continued growth. Changing the name to the Fifth Third Funds enables us to use a broader distribution network where Fifth Third brand name recognition has already been firmly established. We believe this name change will enable the funds to grow at an accelerated rate." He continues, "The Fifth Third brand name is something that our employees take a great deal of pride in and Wall Street analysts respect. We're pleased the fund family we manage will have a name which is associated with a bank known for its hustle and strong financial performance." Fifth Third Bank Vice President Scott N. Degerberg offers, "The Fifth Third Funds have a great deal to offer potential investors. As a result of the recent merger of the Cardinal Funds with the Fifth Third Funds, the fund family offers even more diversified choices for an individual's investment portfolio. It's important to remember that while the name of the fund family is changing, the portfolio managers that out clients know and trust are remaining the same." The Fifth Third Fund Family now consists of: -- Six Stock Funds: Cardinal Fund, Quality Growth Fund, Pinnacle Fund, Mid Cap Fund, Equity Income Fund and International Equity Fund; -- One Balanced Fund: Balanced Fund; -- Five Bond Funds: Quality Bond Fund, Bond Fund for Income, Ohio Tax-Free Bond Fund, Municipal Bond Fund and U.S. Government Securities Fund; and -- Four Money Market Funds: Tax-Exempt Money Market Fund, U.S. Treasury Obligations Fund, Government Cash Reserves Fund and Commercial Paper Fund. Fifth Third Bank has over $134 billion in assets under care, $15 billion of which is managed for personal, corporate and not-for-profit clients. The Fifth Third Funds will replace the former Fountain Square Funds in mutual fund listings in newspapers and industry publications and can be found under the heading "Fifth Third Funds." Investments in the Fifth Third Funds are: NOT INSURED BY THE FDIC or any other government agency, are not deposits or obligations of, or guaranteed by, any bank, the distributor or any of their affiliates, and involve investment risks, including possible loss of the principal amount invested. For more complete information about the funds including charges and expenses, phone 888-799-5353 for a prospectus. Read it carefully before you invest or send money. BISYS Fund Services is the distributor for the funds. Founded in 1858, Fifth Third Bank is headquartered in Cincinnati, Ohio. The Bank is one of 12 affiliates of Fifth Third Bancorp (Nasdaq: FITB) which has $28.3 billion in assets, 468 full-service Banking Centers, including 105 Bank Mart locations open seven days a week inside select grocery stores and 1,261 Jeanie ATMs in Ohio, Kentucky, Indiana, Florida and Arizona. Fifth Third's financial strength continues to be recognized by rating agencies with deposit ratings of AA- and Aa2 and commercial paper ratings of Al+ and P1 from Standard & Poor's and Moody's, respectively. Fifth Third operates four main businesses: Retail, Commercial, Investment Advisory, and Midwest Payment Systems, the Bank's data processing subsidiary. Press releases are available by fax at no charge by calling 800-758-5804, extension 281775. The company's common stock is traded in the over-the-counter market through the Nasdaq National Market under the symbol "FITB."RELATED LINKS
SOURCE Fifth Third Bancorp