Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Huntington Adding Funds Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, November 21, 2000

Huntington Adding Funds

Reported by Tamiko Toland

Huntington is changing its strategy with new funds and a new approach to the marketplace. Using an internal focus group of marketers, wholesalers, broker-dealers, and investment staff, Huntington chief investment officer Randy Bateman crafted a set of five funds the company is in the process of breaking out.

"We are trying to pizzaz up our quiver of arrows we are offering to the public," Batman told MutualFundWire.com. The new funds will have "offshore possibilities" and are all based on three objectives: profitability, market differentiation, and salability.

Bateman also has two hush-hush funds in the development stage. "We want to take a lot of the time to think those through and develop them in the first quarter of next year for entry in 2002," he confided, reluctant to give additional details. The new CIO, brought on board in late September, has made many changes helmed by chief executive Dan Benhase, himself hired in the spring. Huntington's restructuring has positioned the company to add efficiency to its operation as well as increase its $2.7 billion mutual fund market penetration.

All funds carry a five percent back-load and have a management fee in the area of seventy-five basis points. The Rotating Index Fund is based upon exchange traded indices and will be actively managed, adjusting to the investment climate.

The new funds are:
  • Rotating Index Fund
  • International Fund
  • New Economy Fund
  • Small Mid-Cap Fund
  • Dividend Capture Fund
"We haven't used our economist nearly enough, but in my regime I plan on doing so," added Bateman, explaining the guiding principles behind its new strategies for fund management.

While Huntington may use a sub-advisor for the International Fund, the company plans on using its own analysis to set the investing tone. The New Economy Fund will not be based on technology or biotech.

"The new economy is anything that adds efficiencies to labor," Bateman pointed out. While tech and biotech will not be excluded, the fund will also keep an eye to the energy and financial arenas. The Dividend Capture Fund, which is Bateman's own brainchild, will generate high yield by holding on stocks just long enough to reap dividends.

Huntington also has plans to adjust its Mortgage Securities Fund, whose growth has stalled and closely mirrors the Intermediate Government Fund. After a short-term shift in emphasis, the company looks to eventually convert it to a real estate fund. With 1,000 licensed brokers at its fingertips, Huntington has high hopes for its ability to reach the public.

"People would kill for that distribution network," Batemen said. "We've never given them any product to sell so we've really got a bird's nest on the ground." The company has further strengthened its broker relationships by facilitating direct interface with fund managers. By involving brokers in the fund-planning focus group, Huntington further emphasized the importance of its sales agents.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use