Boatmen's Trust Co. has adopted a new name - the Pilot Funds - for its proprietary mutual fund family.
The decision to scrap the 12-year-old Centerland Funds name was announced in a June 1 letter to fund shareholders.
The new name is part of an effort to develop "a stronger identity and wider distribution capabilities," the letter said. It appeared in the July issue of Lipper Bank-Related Fund Analysis, a publication of Lipper Analytical Services, Summit, N.J.
The trust unit of Boatmen's Bancshares, St. Louis, is also changing management of the Pilot Funds, which have $3.2 billion of assets in four portfolios.
Boatmen's Trust is taking over from Goldman Sachs Asset Manager as investment adviser to two portfolios: a short-term Treasury fund and a short-term diversified assets fund.
The unit of Goldman, Sachs & Co. continues as adviser to the other two funds, with Boatmen's Trust remaining as subadviser.
Concord Holding Corp. recently took over from Goldman Sachs as distributor and administrator of the mutual fund family.
-- Debra Cope