Wednesday, March 19, 2008
CCM Taps a Fourth Subadvisor for an AHA Fund
News summary by MFWire's editors
has hired Turner Investment Management
as the fourth subadvisor to the AHA Diversified Equity Fund
. Berwyn, Pennsylvania-based Turner, which took on the subadvisory duties on February 29, joins Freeman Associates Investment Management
, AMBS Investment Counsel
, and SKBA Capital Management LLC
, chief investment officer at CCM Advisors, said Turner was brought on board to broaden the fund's focus on growth stocks.
"Adding Turner at this time is like adding a sprinter to a long-distance running team," Solberg said.
Company Press Release
CHICAGO, March 19 /PRNewswire/ -- Highly regarded Turner Investment Partners (Turner) joined the Chicago-based AHA Diversified Equity Fund (AHADX) as a fourth sub-advisor on February 29, 2008. The fund, a tobacco-free investment opportunity, began in 1988 sponsored by the American Hospital Association (AHA) and was initially available only to hospitals and other AHA- related institutions. Since 2004, a no-load class of the fund has been available to individuals.
"We added Turner to broaden our focus on growth stocks," said Timothy Solberg, Chief Investment Officer of CCM Advisors, LLC, the fund's investment manager. "We believe market conditions favor growth now, and will continue to do so over the next several years. Turner is an excellent complement to our current money managers, who are focused on value and large-cap opportunities. In effect, adding Turner at this time is like adding a sprinter to a long- distance running team. It positions us to compete with what we believe are the best team members for all market conditions."
The Fund invests in good health, by avoiding stocks of companies involved in smoking. Research by each of the sub-advisors, Freeman Associates Investment Management, AMBS Investment Counsel, SKBA Capital Management LLC and Turner, excludes companies that process or manufacture tobacco-related products, with data provided by the Risk Metrics/Investor Responsibility Research Center. This socially conscious approach is in cooperation with the American Hospital Association, which encourages healthy, tobacco-free investment guidelines.
Within these parameters the fund is well-diversified and seeks to provide long-term capital growth. It looks for opportunities for superior total return through combining a broadly diversified core equity portfolio (managed by Freeman Associates), a large-mid cap value alpha equity portfolio (managed by SKBA Capital Management), a fundamental large cap value style portfolio (managed by AMBS Investment Counsel) and now the addition of a growth style portfolio (the new Turner Investment Partners portfolio). This multi-manager approach is designed to help achieve returns over the market, while striving to control risk, using what is known as a core-alpha philosophy.
Turner, based in Berwyn, PA, was founded in 1990 by brothers Bob and Mark Turner and Christopher McHugh. As of December 31, 2007, the firm managed assets of just over $29 billion. Sub-advising for funds is a priority for the firm, allowing them to focus on what they believe is their key strength: providing a highly specialized form of "style pure" equity management to clients. Approximately a third of their assets under management are from sub- advisor relationships with more than two dozen strategic partners.
Turner utilizes an institutional approach that they informally describe as one of style purity and no surprises, aided by a team of sector-focused research professionals. "We selected Turner after extensive due diligence," said Solberg. "Our portfolio models allowed us to combine the historical performance of a number of managers with our current partners. We looked for alliances that had the potential optimize our total portfolio in a way that strives to maintain an acceptable level of risk for our investors. We believe Turner Investment Partners will help us meet this goal."
For additional view of release and pie chart, please go here: http://www.ahafunds.org/Portals/0/docs/Press%20Release%20Turner%203-18.doc
About the AHA Investment Funds
The AHA Investment Funds are a series of the CNI Charter Funds. CCM Advisors, LLC, is the AHA-sponsored investment advisor for the AHA Investment Program and recommends sub-advisors. There are five different investment options that are offered as part of the AHA Investment Funds and range from conservative fixed income to all equity funds. All of the AHA Investment Funds are tobacco-free and the AHA Socially Responsible Equity Fund follows additional investment guidelines as summarized below:
-- AHA Diversified Equity Fund
-- AHA Balanced Fund
-- AHA Full Maturity Fixed Income Fund
-- AHA Limited Maturity Fixed Income Fund
-- AHA Socially Responsible Equity Fund (invests in responsible business practices and environmental sustainability while following guidelines of the US Conference of Catholic Bishops)
Investments in Class N shares of the funds by individuals require a minimum initial investment of $1,000 and can be made directly through the funds or through a variety of brokerage platforms. Institutional Class shares are available for a minimum initial investment of $1 million.
The AHA Investment Funds and CNI Charter Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is unaffiliated with the American Hospital Association and CMM Advisors, LLC.
Investing involves risk, including possible loss of principal. Bonds and bond funds are subject to interest rate risk and will decline in value as interest rate rise.
To determine if any of the AHA Investment Funds is an appropriate investment for you, carefully consider the fund's investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the AHA Investment Funds prospectus, which may be obtained by calling 800-445-1341 or visiting our website at http://www.ahafunds.org/. Read the prospectus carefully before investing.
Armie Margaret Lee
Stay ahead of the news ... Sign up for our email alerts now
Do You Recommend This Story?