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STATE MUTUAL SECURITIES TRUST SHAREHOLDERS APPROVE PROPOSED MANAGEMENT AGREEMENT

 STATE MUTUAL SECURITIES TRUST SHAREHOLDERS APPROVE
 PROPOSED MANAGEMENT AGREEMENT
 WORCESTER, Mass., May 12 /PRNewswire/ -- Shareholders of State Mutual Securities Trust (NYSE: SMS) (SMS) at a reconvened meeting of shareholders today (Tuesday, May 12) approved a proposed management agreement.
 Under the new management agreement, State Mutual Life Assurance Company of America will continue to provide investment advisory services, but no longer will provide pricing and bookkeeping services to the trust. These services will be provided by an affiliated company, 440 Financial Group of Worcester, Inc., under a separate Fund Services Agreement.
 SMS Trust, a closed-end diversified management investment company, was organized in 1973. Its primary investment objective is to provide a high rate of current income for distribution to shareholders. The trust invests primarily in fixed-income securities. Its shares are listed on the New York Stock Exchange with the symbol SMS.
 -0- 5/12/92
 /CONTACT: John W. Bosselman III, assistant vice president of State Mutual Securities Trust, 508-855-2778/
 (SMS) CO: State Mutual Securities Trust ST: Massachusetts IN: FIN SU:


SH -- NE015 -- 9119 05/12/92 12:10 EDT
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Publication:PR Newswire
Date:May 12, 1992
Words:178
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