FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE
FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE CHARLOTTE, N.C., Nov. 18 /PRNewswire/ -- First Union
National Bank's Capital Management Group investment performance ranked in the top 5 percent of the nation's money managers for the 10-year period ended September 30, 1991, according to a national study.
First Union's Common Stock Fund for individuals, managed by the bank's Capital Management Group, ranked in the top 5 percent of money managers and 49th nationally, with a 10-year cumulative return of 475.8 percent. By comparison for the same period, the Standard & Poor's 500 returned 396.5 percent. The study is conducted and published quarterly by CDA Investment Technologies, Inc., an independent investment performance measurement service based in Rockville, Md. For this 10-year period, CDA ranked 892 U.S. investment funds managed by banks, insurance companies and mutual funds. First Union's Capital Management Group is the trust arm of the bank. The 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 National Bank also serves as investment adviser to The Salem Funds, a family of mutual funds. First Union Corporation operates banking offices in North Carolina, South Carolina, Georgia, Florida and Tennessee, and non- banking offices in 36 states. -0- 11/18/91 /CONTACT: Media Contact: Donna Stockton, First Union Corporation, 704-374-6999/ (FTU FTUpr) CO: First Union National Bank; First Union Corporation ST: North Carolina IN: FIN SU: DF -- CH003 -- 1336 11/18/91 10:35 EST
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|Date:||Nov 18, 1991|
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