Citizens Funds Announces Management Change for Its Large Cap Value Fund; Citizens Advisers Investment Management Team Takes Charge of the Citizens Value Fund.Business Editors PORTSMOUTH, N.H.--(BUSINESS WIRE)--Oct. 30, 2002 Citizens Funds, one of the nation's oldest and largest families of socially responsible mutual funds, announced today that Citizens Advisers, Inc. has assumed the management of the Citizens Value Fund. The fund was previously sub-advised by Meyers Capital Management. "Our goal is to improve the overall performance of the Citizens Value Fund," stated Sophia Collier Sophia Collier is the founder and chair of the Board of Directors of Citizens Advisers, Inc. and is the creator of the Citizens IndexSM, an index of socially responsible large-capitalization companies. , chair of Citizens Advisers. "I'm confident that our extensive management experience in socially responsible investments - gained over almost twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. - will serve the Citizens Value Fund and its investors well." Citizens is using its full equity investment management team to manage the portfolio and cover the diverse industries and opportunities for value investments. In managing the fund, the team will continue to look for companies whose stock prices are below their intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. . Their objective is to focus on those companies the team believes are overlooked, but still offer sound business models and signs that a turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. is already underway. "We believe our `quality value' approach has the potential to lower the downside risk Downside Risk An estimation of a security's potential to suffer a decline in price if the market conditions turn bad. Notes: You can think of this as an estimate of the amount that you could lose on a stock or other investment. of the portfolio, while providing an improved opportunity for positive returns - characteristics investors expect from value portfolios," said Ms. Collier. About Citizens Funds: For two decades, Citizens Funds has been a leader in socially responsible investing Socially responsible investing describes an investment strategy which combines the intentions to maximize both financial return and social good. In general, socially responsible investors favor corporate practices which are environmentally responsible, support workplace diversity, (SRI). Citizens' mission is to generate superior returns by investing in companies that are fundamentally strong and socially responsible. As one of the largest SRI families in the world, Citizens offers individual and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. a wide array of investment options, including domestic and international equity, fixed income and money market funds. Please call (800) 223-7010 for a prospectus that contains complete details of fees and expenses and should be read carefully before investing. Distributed by Citizens Securities, Inc., Portsmouth, NH 03801 |
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