Montpelier, Vermont-headquarted Sentinel Funds is launching the Sentinel Growth Index Fund, Steve Scrimgerour, vice president, told the MFWire.com. The fund will buy the same names that are held by the S&P/Barra Growth Index.

"It is rare for a fund to be based on the Barra," Scrimgerour stated, "but we took a look at the marketplace.

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We felt that it was a good time to go and introduce a fund like this."

"It is an effort on our part to fill up more of the Morningstar style boxes. We are a value company. The Barra index gives us a way to approach the large-cap growth market," he continued.

The firm expects that the fund will be made available on September 15, 1999. This date is tentative, pending final approval of the prospectus.

"This fund is targeted to investors looking for a large cap investment with index-like return potential. It not only significantly expands the options available to growth-oriented Sentinel investors, it is an excellent example of how Sentinel develops products to satisfy specific needs in the marketplace," opined Julie Hendrickson, president.

Current Sentinel funds include a balanced fund (SEBLX), a mid-cap growth fund (SNTNX), and a world fund (SWLRX). 

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