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PACIFIC HORIZON AGGRESSIVE GROWTH FUND RECEIVES FIVE-STAR RATING

   PACIFIC HORIZON AGGRESSIVE GROWTH FUND RECEIVES FIVE-STAR RATING
    NEW YORK, Dec. 12 /PRNewswire/ -- The Pacific Horizon Aggressive Growth Fund has received the highest rating of five stars from Morningstar Mutual Funds, the Chicago-based mutual fund rating service.
    The new rating for the Pacific Horizon Aggressive Growth Fund appears in the Nov. 29, 1991, issue of the service's publication.  The rating represents a fund's historical risk/reward ratio relative to others in its class.
    In its analysis of the fund, Morningstar describes the Pacific Horizon Aggressive Growth Fund as "second to none."  The report continues: "Since its inception, the fund has delivered a breakneck pace of returns.  For the trailing five years, in fact, the fund's returns have averaged an annualized 20 percent, making the fund the top rated aggressive growth vehicle for that period."
    The Pacific Horizon Aggressive Growth Fund is also the number one capital appreciation fund in its asset category for both year-to-date and 12-month total return through Dec. 5, according to Lipper Analytical Services.
    The fund's 1991 return was 55.81 percent and its 12-month return was 62.22 percent (both to Dec. 5).  Lipper ranked the fund number one in its category for 1990.
    Portfolio manager Jeff Malet "has hit home runs with companies like Amgen," says Morningstar.  While the fund's recent success came from its biotechnology and other medical-related stocks, "the emphasis on buying into growth at relatively cheap prices often leads the fund to different sectors."
    Among the companies Malet is currently focusing on are those that can deliver value to the consumer.  In the retail area these include warehouse and discount stores, outlet malls and liquidators.  Malet expects such retailers to take market share away from full service department stores as consumer attitudes shift from convenience to value.
    The Pacific Horizon Aggressive Growth Fund started in 1984.  As of Dec. 5, 1991, total assets were $155.5 million.  Security Pacific National Bank is the investment advisor and Concord Financial Group, Inc. is the sponsor and distributor.
    -0-             12/12/91
    /NOTE:  The fund's average annual total returns through 9/30/91 for one and five years and since inception on 3/30/84 were 72.28 percent, 19.84 percent and 25.02 percent, respectively.  Investment returns and principal values are historical and will vary with market conditions so that an investor's shares, when redeemed, may be worth more or less than their original cost.  Past performance is no guarantee of future results.  Total return figures include change in share price, reinvestment of dividends and capital gains and the effect of the maximum 4.5 percent sales charge./
    /CONTACT:  Laura Berger or Stan Appenzeller of Arlen Financial Communications, 212-966-5100, for Pacific Horizon Aggressive Growth Fund/ CO:  Pacific Horizon Aggressive Growth Fund ST:  New York IN:  FIN SU: FC-OS -- NY002 -- 1785 12/12/91 09:01 EST
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Publication:PR Newswire
Date:Dec 12, 1991
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