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Rating:STI Classic Funds to Get a New Moniker Not Rated 2.5 Email Routing List Email & Route  Print Print
Monday, March 10, 2008

STI Classic Funds to Get a New Moniker

News summary by MFWire's editors

The adviser to the STI Classic Funds is changing its name and the fund family is set to follow suit.

SunTrust's institutional money management arm, Trusco Capital Management, will be known as RidgeWorth Capital Management and the funds will be called RidgeWorth Funds effective March 31.

"We've always served our institutional clients through what has essentially been a multi-boutique holding company," David Eidson, chairman and CEO of Trusco, said in a release. "In order to remain competitive in today's marketplace, with both current and future clients, we believe a more formalized boutique structure is appropriate."

The funds' sub-advisory relationships will not be affected by the change.


Company Press Release

Trusco Capital Management, Inc. ("Trusco") announced today that on March 31, 2008, it will become RidgeWorth Capital Management, Inc. ("RidgeWorth"), an SEC-registered investment adviser serving as a money-management holding company with multiple style-focused investment boutiques. RidgeWorth will provide Trusco's existing style-focused investment teams with increased flexibility, allowing them to enhance their focus on delivering superior investment performance to clients.

"We've always served our institutional clients through what has essentially been a multi-boutique holding company," says David Eidson, Chairman and CEO of Trusco. "In order to remain competitive in today's marketplace, with both current and future clients, we believe a more formalized boutique structure is appropriate. That's what we're doing with RidgeWorth Capital Management. We believe this structure enhances our ability to attract and retain top investment talent and consistently deliver very competitive investment performance to our clients."

The RidgeWorth name was chosen to convey the value that the new firm provides to the marketplace. "When you think of a ridge, you think about something that connects mountainous peaks. RidgeWorth Capital Management connects independent, high performing investment boutiques to bring a highly competitive network of asset management firms to our clients," says Eidson. "We can deliver those boutiques to our clients individually, we can deliver them collectively, but we're striving to deliver superior investment performance in a package that makes the most sense to each of our clients."

The STI Classic Funds, which are advised by Trusco, will take on the new name of the Adviser on March 31st, and become the RidgeWorth Funds. These changes will not impact the investment professionals who manage the individual funds or their processes. General descriptions of the individual boutiques/subadvisers, which will be separate subsidiaries, are currently available on the STI Classic Funds website (http://www.sticlassicfunds.com).

The new RidgeWorth Capital Management (http://www.ridgeworth.com) and RidgeWorth Funds (http://www.ridgeworthfunds.com) websites will be available on March 31st.

A segment of Trusco responsible for client portfolio management and advice will continue to do business as Trusco Capital Management and will retain its current website (http://www.truscocapital.com).

About Trusco Capital Management Inc.

Trusco Capital Management, Inc. is a subsidiary of SunTrust Banks, Inc. (NYSE: STI), one of the largest bank holding companies in the nation with total assets of $179.6 billion and total deposits of $117.8 billion as of December 31, 2007. Through its Wealth and Investment Management unit, SunTrust has approximately $250 billion in managed and advised client assets. As SunTrust's primary provider of institutional investment management services, Trusco provides customized investment management to a growing client base that includes endowments, foundations, corporations, healthcare organizations, municipalities, public funds, associations, insurance companies, labor unions and high net worth individuals. Trusco employs specialists in a wide variety of investment disciplines including liquidity management, fixed income and equity management. In addition, the firm serves as the investment adviser to the STI Classic Mutual Fund family. Trusco Capital Management is an SEC Registered Investment Adviser headquartered in Atlanta, Ga., with approximately $74 billion in assets under management. For more information about Trusco, visit http://www.truscocapital.com.

This press release may contain forward-looking statements, as defined by federal securities law, which involve significant risks and uncertainties. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; changes in accounting principles, policies, or guidelines; significant changes in the economic scenario: significant changes in regulatory requirements; and significant changes in securities markets. SunTrust does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Any such statements are made in reliance on the safe harbor protections provided under the Private Securities Act of 1995.
 

Edited by: Erin Kello


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