Short Takes: New Centura Fund To Invest in Southeast

Centura Bank, Rocky Mount, N.C., has rolled out a mutual fund that invests only in companies based in the Southeast.

The Southeast Equity Fund, with $16.6 million of assets, will invest in common or preferred stocks of small companies with operations in the Southeast or Texas. A fund for the bank's trust customers uses a similar strategy.

"The Southeast is a tremendous region of diverse economic growth, with many strong and well-managed companies," said Frank Jolley, chief investment officer of Centura's investment management department.

The Southeast Equity Fund brings Centura's fund offerings to five. The others are Centura Equity Growth Fund, Centura Equity Income Fund, Centura Federal Securities Income Fund, and Centura North Carolina Tax-Free Bond Fund.

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