Monday, March 10, 2008
STI Classic Funds to Get a New Moniker
News summary by MFWire's editors
The adviser to the STI Classic Funds
is changing its name and the fund family is set to follow suit.
SunTrust's institutional money management arm, Trusco Capital Management
, will be known as RidgeWorth Capital Management
and the funds will be called RidgeWorth Funds
effective March 31.
"We've always served our institutional clients through what has essentially been a multi-boutique holding company," David Eidson
, chairman and CEO of Trusco, said in a release. "In order to remain competitive in today's marketplace, with both current and future clients, we believe a more formalized boutique structure is appropriate."
The funds' sub-advisory relationships will not be affected by the change.
Company Press Release
Trusco Capital Management, Inc.
("Trusco") announced today that on March 31, 2008, it will become
RidgeWorth Capital Management, Inc. ("RidgeWorth"), an SEC-registered
investment adviser serving as a money-management holding company with
multiple style-focused investment boutiques. RidgeWorth will provide
Trusco's existing style-focused investment teams with increased
flexibility, allowing them to enhance their focus on delivering superior
investment performance to clients.
"We've always served our institutional clients through what has
essentially been a multi-boutique holding company," says David Eidson,
Chairman and CEO of Trusco. "In order to remain competitive in today's
marketplace, with both current and future clients, we believe a more
formalized boutique structure is appropriate. That's what we're doing with
RidgeWorth Capital Management. We believe this structure enhances our
ability to attract and retain top investment talent and consistently
deliver very competitive investment performance to our clients."
The RidgeWorth name was chosen to convey the value that the new firm
provides to the marketplace. "When you think of a ridge, you think about
something that connects mountainous peaks. RidgeWorth Capital Management
connects independent, high performing investment boutiques to bring a
highly competitive network of asset management firms to our clients," says
Eidson. "We can deliver those boutiques to our clients individually, we can
deliver them collectively, but we're striving to deliver superior
investment performance in a package that makes the most sense to each of
The STI Classic Funds, which are advised by Trusco, will take on the
new name of the Adviser on March 31st, and become the RidgeWorth Funds.
These changes will not impact the investment professionals who manage the
individual funds or their processes. General descriptions of the individual
boutiques/subadvisers, which will be separate subsidiaries, are currently
available on the STI Classic Funds website (http://www.sticlassicfunds.com).
The new RidgeWorth Capital Management (http://www.ridgeworth.com) and
RidgeWorth Funds (http://www.ridgeworthfunds.com) websites will be available on
A segment of Trusco responsible for client portfolio management and
advice will continue to do business as Trusco Capital Management and will
retain its current website (http://www.truscocapital.com).
About Trusco Capital Management Inc.
Trusco Capital Management, Inc. is a subsidiary of SunTrust Banks, Inc.
(NYSE: STI), one of the largest bank holding companies in the nation with
total assets of $179.6 billion and total deposits of $117.8 billion as of
December 31, 2007. Through its Wealth and Investment Management unit,
SunTrust has approximately $250 billion in managed and advised client
assets. As SunTrust's primary provider of institutional investment
management services, Trusco provides customized investment management to a
growing client base that includes endowments, foundations, corporations,
healthcare organizations, municipalities, public funds, associations,
insurance companies, labor unions and high net worth individuals. Trusco
employs specialists in a wide variety of investment disciplines including
liquidity management, fixed income and equity management. In addition, the
firm serves as the investment adviser to the STI Classic Mutual Fund
family. Trusco Capital Management is an SEC Registered Investment Adviser
headquartered in Atlanta, Ga., with approximately $74 billion in assets
under management. For more information about Trusco, visit
This press release may contain forward-looking statements, as defined
by federal securities law, which involve significant risks and
uncertainties. Actual results could differ materially from those contained
in or implied by such statements for a variety of reasons including, but
not limited to: changes in interest rates; changes in accounting
principles, policies, or guidelines; significant changes in the economic
scenario: significant changes in regulatory requirements; and significant
changes in securities markets. SunTrust does not undertake to update
forward-looking statements to reflect circumstances or events that occur
after the date the forward-looking statements are made. Any such statements
are made in reliance on the safe harbor protections provided under the
Private Securities Act of 1995.
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