BB&T Funds [see profile] has taken on a new name. The fund family is now called Sterling Capital Funds, four months after BB&T Asset Management merged into Sterling Capital Management LLC [see profile].
The merger took place last October 1 and the rebranding
took effect on Tuesday. There are 23 mutual funds
in the Sterling Capital lineup.
Charlotte, North Carolina-headquartered Sterling Capital is an independently operated subsidiary of BB&T Corporation. Sterling has been around since 1970. In 2005, BB&T purchased a majority stake in Sterling.
Company Press Release
BB&T Funds renamed Sterling Capital Funds
RALEIGH, N.C., Feb, 4, 2011 -- Sterling Capital Management announced that effective Feb. 1, the BB&T Funds have been renamed Sterling Capital Funds. The decision to change the fund family name follows the merger with the former advisor, BB&T Asset Management Inc., into Sterling Capital Management LLC that occurred Oct. 1, 2010.
"We are uniquely positioned to provide institutions, advisors and individuals the tools needed to navigate a challenging investment landscape," said Alex McAlister, president of Sterling Capital Management. "Our collaborative approach allows our investment teams to apply proprietary research and analysis along with common sense thinking to implement world-class investment strategies."
"Whether clients are looking for the current income potential of bonds, growth potential of stocks, the stability of money market funds, or a combination of all three, Sterling Capital Funds offers a well diversified lineup of 23 mutual funds skillfully guided by some of the industry's premiere talent," McAlister said.
For more information on Sterling Capital Funds, please visit the newly designed Web site (www.sterlingcapitalfunds.com). The site features a list of the new fund names and a brief Q&A on the rename.
Sterling Capital Management - advisor to the sterling capital funds
Sterling Capital Management LLC is a registered investment advisor founded in 1970. Sterling is an independently operated subsidiary of BB&T Corporation, one of the nation's largest financial services holding companies. Headquartered in Charlotte, N.C. with offices in Raleigh, N.C.; Atlanta, Ga.; and San Francisco, Calif., Sterling has more than $32 billion* in assets under management overseen by 75 investment and client services professionals. Sterling provides investment management services to a diversified group of clients including corporate, public, healthcare, private clients, endowment, foundation, insurance, sub-advisory, and managed investment pools in 40 states and 10 countries worldwide.
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