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PACIFIC HORIZON FUND ASSETS NEARLY DOUBLE TO $9.5 BILLION, THE FUND'S DISTRIBUTOR SAYS; NEW INITIATIVES CREDITED

 PACIFIC HORIZON FUND ASSETS NEARLY DOUBLE TO $9.5 BILLION,
 THE FUND'S DISTRIBUTOR SAYS; NEW INITIATIVES CREDITED
 NEW YORK, March 9 /PRNewswire/ -- Assets of The Pacific Horizon Family of Mutual Funds nearly doubled in size during the past year, it was announced by Richard E. Stierwalt, chief executive officer of the Concord Financial Group, Inc., distributor of the Pacific Horizon funds.
 Pacific Horizon funds include some of the largest and best- performing bank-managed money funds. As of Feb. 21, 1992, total assets for the 11 Pacific Horizon retail and institution funds were $9.5 billion. The increase in Pacific Horizon assets were almost entirely the result of new sales, which totaled more than $4.5 billion (net of redemptions).
 Peter S. Voss, executive vice president, Security Pacific Investment Group, the fund's adviser, said: "Working with Concord greatly enhanced our ability to reach new institutional and retail markets. In addition, through our joint efforts we increased awareness of our funds' superior performances and won greater investor acceptance among current shareholders as well. As a result, last year was our most successful in terms of asset growth."
 Stierwalt attributed the new sales to long-term marketing strategies and initiatives for identifying and bringing in new institutional and retail assets.
 "Our dedicated national institutional marketing and sales units, working with the Security Pacific Investment Group, successfully brought Pacific Horizon's money market funds to the attention of corporate and municipal cash managers and bank trust departments who hadn't been using these funds before," said Stierwalt. "On the retail side, our wholesalers were working with Security Pacific's broker-dealer group and other brokerage firms while our telemarketing group was cross-selling to existing shareholders."
 These efforts contributed to increases of 133 percent for institutional money fund assets, 69 percent for retail money market assets, and 114 percent for non-money fund assets between Jan. 2, 1991 and Feb. 21, 1992 (net of redemptions).
 The first Pacific Horizon funds were introduced in 1984 to meet the needs of individual investors. In 1987, the Horizon funds were created for the institutional marketplace. Pacific Horizon also introduced the first money fund with three classes of shares designed and priced for three different investor-class markets.
 The Pacific Horizon retail funds are: Pacific Horizon Treasury, Prime, Tax-Exempt and California Tax-Exempt Money Market Funds; Pacific Horizon Aggressive Growth Fund; Pacific Horizon U.S. Government Securities Fund; Pacific Horizon Capital Income Fund and Pacific Horizon California Tax-Exempt Bond Fund. Institutional portfolios are the Horizon Treasury, Prime and Tax-Exempt Money Funds.
 Concord Financial Group, Inc. is one of the largest administrators, sponsors and distributors of proprietary bank mutual funds, and is the administrator, sponsor and underwriter as well as distributor of the Pacific Horizon Funds. Security Pacific National Bank, one of the first banks in the United States to develop a family of proprietary mutual funds, is one of the largest bank investment advisors of mutual funds.
 -0- 3/9/92
 /CONTACT: Laura Berger or Stan Appenzeller of Arlen Financial Communications, 212-966-5100, for Pacific Horizon/ CO: Concord Financial Group Inc. ST: New York IN: FIN SU:


TQ -- NY002 -- 6219 03/09/92 08:59 EST
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Publication:PR Newswire
Date:Mar 9, 1992
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