Monday, March 12, 2012
Meet the New Wilmington Funds
Reported by Neil Anderson, Managing Editor
The MTB Funds
] brand has officially disappeared, swallowed by that of the Wilmington Funds
]. In January M&T Bank
revealed that it planned to combine its mutual fund family with that of its recent acquisition, Wilmington Trust [see MFWire.com, 1/10/2012
], and today M&T confirmed that the combination is complete.
"The reorganization of these two fund families creates a strategic spectrum of mutual funds," stated Ken Thompson
, senior vice president of asset management.
The freshly combined mutual fund family includes 25 funds with a combined $13.8 billion in assets as of the end of 2011. The family includes alternatives, asset allocation, equity, fixed income, money market funds and multi-manager real asset mutual funds. As part of the rebranding and combination, Wilmington merged away four MTB funds and six Wilmington ones.
Wilmington Funds Management Corporation is the funds' adviser and Wilmington Trust Investment Advisors is their primary subadviser.
Company Press Release
MTB Group of Funds and Wilmington Funds Reorganize into One Mutual Fund Family
New Wilmington Funds family offers array of investment choices
WILMINGTON, Del., March 12, 2012 -- M&T Bank and Wilmington Trust have reorganized the MTB Group of Funds and Wilmington Funds into one fund family. The new and expanded "Wilmington Funds" offers a broader portfolio of investment choices for clients.
Wilmington Funds ( www.wilmingtonfunds.com ) now boasts 25 funds and $13.8 billion in assets as of Dec. 31, 2011. The new continuum of funds offer investment depth and asset class coverage through a total of four money market funds, nine fixed income funds, three asset allocation funds, seven equity funds, a multi-manager real asset fund, and an alternatives fund. The complete list of funds is below.
"The reorganization of these two fund families creates a strategic spectrum of mutual funds designed to address a wide range of investor goals with choices ranging from money market, fixed income, equity, and asset allocation funds," said Ken Thompson, senior vice president of Asset Management. "Through the new Wilmington Funds we can provide our clients with a wide array of mutual funds to help meet their investment goals."
Wilmington Funds, advised by Wilmington Funds Management Corporation (WFMC), offers focused equity choices including: small, mid, and large cap growth, large cap value, and a multi-manager international equity fund.
"Having worked alongside and served ultra-high-net-worth and institutional clients, we've learned something about their unique needs," said Sam Fraundorf, president of Wilmington Trust Investment Advisors, Inc. (WTIA), the primary sub-adviser to the Wilmington Funds. "This experience has enabled us to develop differentiated mutual fund solutions that provide for these needs."
Recognizing the increasing income needs of clients, Wilmington Trust broadens its taxable fixed income offerings to include short-duration corporate and government funds, and intermediate and broad market funds.
"Given our expertise working with successful individuals and families, there is a particular focus on our municipal operation, where we offer both national municipal and state specific municipal bond funds," said Bob Truesdell, head of Wilmington Trust's Fixed Income team.
Wilmington Trust will also maintain its suite of money market offerings including U.S. Government, U.S. Treasury, prime, and tax-exempt funds.
In addition, Wilmington Funds offers a range of strategic allocation funds, a multi-manager real asset fund, and an alternatives fund that invests in a variety of hedge strategies.
COMPLETE LIST OF WILMINGTON FUNDS
Wilmington Large-Cap Strategy Fund Wilmington Large-Cap Value Fund Wilmington Large-Cap Growth Fund Wilmington Mid-Cap Growth Fund Wilmington Small-Cap Strategy Fund Wilmington Small-Cap Growth Fund Wilmington Multi-Manager International Fund
Wilmington Rock Maple Alternatives Fund Wilmington Multi-Manager Real Asset Fund
Wilmington Strategic Allocation Conservative Fund Wilmington Strategic Allocation Moderate Fund Wilmington Strategic Allocation Aggressive Fund
TAXABLE FIXED INCOME
Wilmington Short Duration Government Bond Fund Wilmington Short-Term Corporate Bond Fund Wilmington Intermediate-Term Bond Fund Wilmington Broad Market Bond Fund
MUNICIPAL FIXED INCOME
Wilmington Municipal Bond Fund Wilmington Virginia Municipal Bond Fund Wilmington Maryland Municipal Bond Fund Wilmington Pennsylvania Municipal Bond Fund Wilmington New York Municipal Bond Fund
Wilmington Prime Money Market Fund Wilmington U.S. Treasury Money Market Fund Wilmington U.S. Government Money Market Fund Wilmington Tax-Exempt Money Market Fund
Wilmington Trust Investment Advisors, Inc. (WTIA) provides clients with access to quality investment advisory and asset management expertise including equity, fixed income, and alternative strategies. On Jan. 10, 2012, MTB Investment Advisors, Inc. (MTBIA), an indirect wholly owned subsidiary of M&T, changed its name to WTIA.
WTIA had over $14 billion of assets under management at Dec. 31, 2011, and it also oversees the investment processes of its affiliates, Wilmington Trust and M&T Bank, which had $44 billion of assets under management at Dec. 31, 2011.
ABOUT WILMINGTON FUNDS MANAGEMENT CORPORATION
On March 12, 2012, Rodney Square Management Corporation was renamed Wilmington Funds Management Corporation (WFMC). WFMC, a wholly owned subsidiary of M&T Bank Corporation and a SEC-registered investment adviser, provides investment advisory services to the Wilmington Funds.
ABOUT WILMINGTON TRUST
Wilmington Trust is owned by M&T Bank Corporation (M&T). Wilmington Trust provides Wealth Advisory Services for high-net-worth clients throughout the United States and Europe, and Corporate Client Services for institutional clients throughout the world. Wilmington Trust has offices in Arizona, California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Texas, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam. For more information, visit wilmingtontrust.com.
MEDIA CONTACT: Kent Wissinger, Wilmington Trust Communications Manager, (302)651-8758
NOT FDIC INSURED - NO BANK GUARANTEE - MAY LOSE VALUE
You should carefully consider the investment objectives, risks, charges, and expenses of the Wilmington Funds before investing. A prospectus with this and other important information may be obtained by calling 800-836-2211 or by visiting www.wilmingtonfunds.com . The prospectus should be read carefully before investing.
Wilmington Funds Management Corporation and Wilmington Trust Investment Advisors, Inc., subsidiaries of M&T Bank Corporation, are the investment advisor and primary sub-advisor, respectively, of the Wilmington Funds with the exception of the Wilmington Strategic Allocation Moderate Fund whose investment advisor is Wilmington Trust Investment Advisors, Inc. ALPS Distributors, Inc., which is not affiliated with M&T Bank Corporation, is the distributor of the Wilmington Funds.
Investing in mutual funds involves risks, including the potential loss of the initial amount invested.
Asset allocation does not assure a profit or protect against a loss.
An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investment in these funds.
All investments involve risks, including possible loss of principal. Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market or economic developments.
Alternative strategies may use aggressive investment approaches, which can be riskier than those typically associated with mutual funds. If a fund employing alternative strategies is unsuccessful, the fund and you may lose more money than if you had invested in another fund that did not invest aggressively. Alternative strategies are subject to risks associated with sub-advisers making trading decisions independently, investing in other investment companies, using a particular style or set of styles, basing investment decisions on historical relationships and correlations, trading frequently, using leverage, making short sales, being non-diversified and investing in securities with low correlation to the market. The use of leverage may magnify losses. Alternative strategies are also subject to risks associated with investments in developed foreign markets, emerging market securities, small cap companies, debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities and CMOs. Please read the prospectus and summary prospectus for any fund for detailed information on risk considerations.
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