Huntington Funds, a unit of Huntington Bancshares Inc. in Columbus, Ohio, announced Monday that it had introduced three asset allocation funds.
The Huntington Asset Allocation funds are an addition to its family of 16 mutual funds and four money market funds.
The new portfolios are the Huntington Conservative Allocation Fund, the Huntington Balanced Allocation Fund and the Huntington Growth Allocation Fund.
Each is a "fund of funds" that invests in a portfolio of other existing Huntington funds. All are advised by Huntington Asset Advisors Inc., which is also a subsidiary of Huntington Bancshares.
The asset allocation funds use a tactical asset allocation strategy, allocating specific percentages of each of the underlying funds to the portfolios based on their performance objectives and risk characteristics. Allocations are reviewed and adjusted to take advantage of market opportunities.
Huntington Bancshares had $12.3 billion of assets under management on June 30.