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CONTINENTAL BANK INTRODUCES 231 FUNDS: FAMILY OF MUTUAL FUNDS FOR CORPORATE INSTITUTIONAL CLIENTS

 CHICAGO, Sept. 1 /PRNewswire/ -- Continental Bank (NYSE: CBK) today announced the introduction of a family of mutual funds designed to allow Continental customers to further integrate their cash management, custody and investment activities while taking advantage of the experience and resources of the bank's investment advisors.
 The 231 Funds, named after the address of the bank's historic headquarters at 231 S. LaSalle St. in Chicago, include three no-load money market funds tailored specifically for the bank's corporate and institutional clients.
 "Our clients need the ability to invest their funds short-term," said Timothy F. Jackson, vice president and product manager for mutual funds at Continental. "Having mutual funds available is another way we can demonstrate our commitment to delivering solutions to our customers' needs within the banking relationship."
 Continental Bank will act as investment advisor for the funds; Concord Holding Corp. will administer the funds, and its subsidiary Concord Financial Group, Inc. will sponsor and distribute them.
 Richard E. Stierwalt, chairman and chief executive officer of Concord, said: "Concord is pleased to be associated with Continental Bank, a premier financial institution, in creating a family of mutual funds. We look forward to working together to build fund assets and explore the introduction of additional funds."
 The 231 Funds comprise three money market funds: the Prime Fund, The U.S. Government Securities Fund and the Treasury Fund.
 The Prime Fund invests in a variety of money market instruments, including bank obligations, commercial paper and other debt obligations of Tier 1-rated companies, as well as other short-term obligations issued or guaranteed by the U.S. government and its agencies, or instrumentalities. The U.S. Government Securities Fund invests solely in U.S. Treasury bills, notes, bonds and other obligations issued or guaranteed by the U.S. government in addition to repurchase agreements collateralized by these obligations. The Treasury Fund, rated AAA by Standard and Poor's, invests exclusively in direct obligations issued by the U.S. Treasury and repurchase agreements collateralized by these obligations.
 Concord Financial Group, Inc. is not affiliated with Continental Bank. Investments in the 231 Funds are not obligations of, nor guaranteed by, Continental Bank and are not insured by the FDIC or any other government agency.
 -0- 9/1/93
 /NOTE TO THE EDITORS:
 1. Continental Bank Corp. is a bank-holding company that focuses on meeting the capital and financial management needs of public and privately held businesses nationwide. Through its subsidiaries, the company provides business financing, specialized financial and operating services and private banking services. Continental also engages in equity finance and investing, as both principal and arranger, and international trading.
 2. Concord Holding Corp., headquartered in New York, is the largest administrator of proprietary bank funds. Concord has more than $30 billion (as of Aug. 18, 1993) in proprietary funds assets under administration, representing more than 90 mutual funds./
 /CONTACT: Pat Scanlon, 312-828-4691, or Bill Murschel, 312-923-5130, both at Continental Bank/
 (CBK)


CO: Continental Bank; Concord Holding Corp. ST: Illinois, New York IN: FIN SU: PDT

PS -- NY041 -- 7959 09/01/93 12:14 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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