MUTUAL FUNDS ARE NOW AVAILABLE THROUGH BARNETT NETWORK
MUTUAL FUNDS ARE NOW AVAILABLE THROUGH BARNETT NETWORK JACKSONVILLE, Fla., Nov. 7 /PRNewswire/ -- Recognizing that
today's customers often want more than the traditional certificate of deposit, Barnett Bank (NYSE: BBI) is now making available a family of mutual funds called Emerald Funds managed by its own trust company.
Customers can choose between various investment strategies including capital growth from stocks, income from long-term bonds, interest with liquidity from money-market securities and tax-free income. Information on the Emerald Funds can be obtained through any of Barnett's almost 600 offices in Florida and Georgia. The funds can be purchased through Barnett Securities, Inc. Investment advisor for the Emerald Funds is Barnett Banks Trust Company, N.A., which currently manages over $1 billion in mutual fund assets. The Emerald Funds are administered by Concord Holding Corporation of New York and distributed by Emerald Asset Management, Inc. of New York. "The introduction of The Emerald Funds is one more example of how Barnett Bank is changing its product line to meet customer's needs in the 1990s," said Thomas P. Johnson Jr., Barnett chief retail banking executive. The funds in the Emerald family are: -- Equity, a fund that seeks long-term capital appreciation through investment in high quality common stocks. -- Florida Tax-Exempt, a fund that seeks a high level of tax-free inocme while maintaining current liquidity through investment in investment-grade Florida municipal obligations. -- U.S. Government Securities, a fund that aims for consistent income and preservation of capital through investments in U.S. Government securities. -- Prime Fund, a money-market mutual fund which provides a high level of current income and preservation of capital through investment in high-quality, short-term money-market instruments. -- Treasury Fund, another money-market mutual fund which invests in short-term U.S. Government securities for maximum safety. -- Tax-Exempt Fund, which seeks a high level of tax-free income and preservation of capital by investing in short-term debt of federally tax exempt entities. The minimum initial investment for all funds is $3,000, or $2,000 for retirement accounts. Customers who sign up to have regular monthly sums transferred from their bank accounts for investment in any of the Emeral Funds can make an initial investment of as low as $1,000. The funds will be in the daily mutual fund listings in major newspapers. Emerald Funds also will make available a 24-hour quote line so that customers can keep close track of the progress of their investment. With $32.3 billion in assets and 593 offices in Florida and Georgia, Barnett is the leading financial institution in Florida and the 21st-largest in the United States. The company's stock (BBI) is listed on the New York Stock Exchange. -0- 11/7/91 /CONTACT: Bob Stickler of Barnett Banks, Inc., 904-791-5437 (office) or 904-396-9284 (home)/ (BBI) CO: Barnett Banks, Inc. ST: Florida IN: FIN SU: PDT SS-AW -- FL005 -- 2092 11/07/91 09:50 EST
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|Date:||Nov 7, 1991|
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