Printer Friendly

FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE

 CHARLOTTE, N.C., Jan. 25 /PRNewswire/ -- First Union's Capital Management Group investment performance ranked in the top 3 percent of the nation's money managers for the 10-year period ended December 31, 1992, according to a national study of 912 U.S. investment funds managed by banks, insurance companies and mutual funds.
 First Union's Common Stock Fund for individuals, managed by the bank's Capital Management Group, ranked in the top 3 percent of money managers and 25th nationally, with a 10-year cumulative return of 410.5 percent. By comparison for the same period, the Standard & Poor's 500 returned 345.2 percent. CDA Investment Technologies, Inc., an independent investment performance measurement service based in Rockville, Md., conducted the quarterly study for this 10-year period.
 With more than $34 billion assets under care, First Union's Capital Management Group offers investment management and administrative services to corporations for various pension, profit sharing and 401(k) plans, as well as to individual trust accounts, endowments and foundations across the Southeast. First Union's Capital Management Group also serves as investment adviser to The First Union Funds, a family of mutual funds.
 At Dec. 31, 1992, First Union Corporation (NYSE: FTU FTUpr) reported assets of $51.3 billion, and operated 896 banking offices in Florida, North Carolina, South Carolina, Georgia and one banking office in Tennessee, 45 savings bank offices in Virginia, Maryland, the District of Columbia and Florida, and 190 nonbanking offices in 36 states and the District of Columbia. When pending acquisitions have been completed during the first half of 1993, the corporation will operate approximately 1,300 banking offices and have assets of approximately $66 billion, based upon Sept. 30, 1992 assets, making it the nation's eighth largest bank holding company.
 -0- 1/25/93
 /CONTACT: Donna Stockton, First Union, 704-374-6999/
 (FTU FTUpr)


CO: First Union Corporation ST: North Carolina IN: FIN SU:

SB -- CH011 -- 8689 01/25/93 16:10 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 25, 1993
Words:318
Previous Article:FIRST CITIZENS BANCSHARES REPORTS INCREASED EARNINGS FOR YEAR
Next Article:FIRST CITIZENS BANCSHARES DECLARES DIVIDEND
Topics:


Related Articles
FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE
FIRST UNION WINS APPEAL OF MELLON BANK LAWSUIT
FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE
FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE
FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE
FIRST UNION INTRODUCES UNIQUE 24-HOUR SERVICE FOR 401(K) DAILY CUSTOMERS
FIRST UNION FOCUSES ON NON-TAXABLE MARKET
FIRST UNION NUMBER ONE IN MUNICIPAL TRUSTEE MARKET SHARE GAINED IN THE SOUTHEAST
First Union Continues Commitment To Capital Management Group With Appointment Of Fluhme
First Union National Bank Migrates to Trustware 11's Alpha Platform

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters