Union Bank of California's HighMark Funds has three new asset allocation funds.
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The San Francisco fund company introduced the Income Plus Allocation Fund, the Growth and Income Allocation Fund, and the Capital Growth Allocation Fund on Monday. They are managed by the affiliated HighMark Capital Management Inc.; the two companies will promote the funds through a nationwide series of road shows.
HighMark Funds manages $7 billion of assets in 17 mutual funds. HighMark Capital manages more than $17 billion for individual and institutional investors worldwide in mutual funds and other investment products.
The bank's holding company, UnionBanCal Corp., is mostly owned by Mitsubishi Tokyo Financial Group Inc.
