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Tuesday, July 31, 2007

RS Investments to Launch First New Fund Since Guardian Merger

News summary by MFWire's editors

RS Investments has launched the RS Equity Dividend Fund. The new fund invests in a diversified portfolio of dividend-paying stocks with the potential for above-average dividend yield and growth and long-term capital ap­preciation. This is the first new fund for RS since they merged with Guardian.

RS Investments Introduces the RS Equity Dividend Fund

Strategy seeks to deliver dividend income and long-term growth potential

San Francisco, July 31, 2007 – RS Investments today announced the launch of the RS Equity Dividend Fund, which invests in a diversified portfolio of dividend-paying stocks that RS Investments believes have the potential for above-average dividend yield, dividend growth and long-term capital ap­preciation.

“This new product leverages a recognized strength of the RS Core Equity team” said Terry Otton, chief executive officer of RS Investments. “We expect it to be a compelling option for those investors who are seeking both income and growth potential as they approach or begin retirement.”

The Fund is managed by Raymond Anello, a portfolio manager with 19 years of investment management experience. Since November 2003, Mr. Anello has been the lead portfolio manager for an institutional account that fol­lows the same strategy as the RS Equity Dividend Fund. Over the course of his career, Mr. Anello has served as an analyst focusing on key sectors of the economy, such as energy, utilities, telecom, basic materials, healthcare services, media, and transportation, building a proven track record of stock selection.

Relying on fundamental research, Mr. Anello and his team of nine experi­enced analysts on the RS Core Equity team assess stocks from a universe of roughly 2,000 dividend-paying stocks. The team looks for well-managed companies that have the potential to expand their dividend growth rate over the next two to five years. The overall portfolio will focus on a core of ap­proximately 40 to 80 companies meeting the RS team’s investment criteria.

About RS Investments

RS Investments (RS) is a family of experienced investment management teams united by a common focus on fundamental research, a disciplined investment process, and the pursuit of long-term investment excellence. RS offers growth, value, and core equity strategies as well as subadvised fixed-income and international capabilities. The firm manages mutual funds, underlying funds of variable annuities, and separate accounts for individu­als and institutions. RS is an independent subsidiary of Guardian Investor Services LLC, and RS employees retain a substantial minority stake in the firm. The firm was founded in 1986 and has offices in San Francisco and New York.

RS Funds are sold by prospectus only. You should carefully consider the investment objectives, risks, charges and expenses of the RS Funds before making an investment decision. The prospectus contains this and other information. Please read it carefully before investing or send­ing money. To obtain a copy of the current prospectus, please call 800-766-FUND or visit us at www.RSinvestments.com.

The value of a company’s stock may decline in response to factors affecting that particular company or stock markets generally. To the extent that the Fund invests its assets in a more limited number of issuers, a decline in the market value of a particular security may affect the Fund’s value more than if the Fund invested in a larger number of issuers. Foreign securities are subject to political, regulatory, economic, and exchange-rate risks not present in domestic investments. From time to time, the Fund’s investment style may be out of favor compared with funds having different investment styles.

You may be subject to the risk of changes in the tax laws, and to financial, state, and local taxes. Please consult your tax adviser.

Distributed by: Guardian Investor Services LLC, 7 Hanover Square, New York, NY 10004.

Not a deposit. Not FDIC or NCUA insured. May lose value. No bank or credit union guarantee.

GIS is a member: NASD, SIPC.

RS Investments is the marketing name for RS Investment Management Co. LLC and its affiliates. 

Edited by: Erin Kello

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