Rockland Trust, a Massachusetts-based bank, jumped into the mutual fund business this month with the launch of two mutual funds. The pair of mutual funds are branded as the "Bright Rock" funds.
The funds are each advised by Bright Rock Capital Management LLC, a new subsidiary that the bank announced at the start of June.
A regulatory filing
shows that the funds are part the Trust for Professional Managers sponsored by Quasar Distributors. The two funds are the Bright Rock Quality Large Cap
and Bright Rock Midcap Growth
The new funds help the bank diversify its business from products that are interest rate sensitive. They also allow the bank to expand beyond its current geographic footprint.
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