mutual fund Tuesday.
The Kent Large Company Growth Fund will invest in companies across multiple sectors that show potential for "superior revenue and earnings growth," said Joseph Keating, chief investment officer of the investment adviser Lyon Street Asset Management Co., a subsidiary of Old Kent.
It will complement the banking company's $930 million-asset Kent Growth and Income Fund, which is more value-oriented, he said.
The new fund differs from other large-company growth funds by investing in 120 to 150 stocks, which will make it less volatile, Mr. Keating said. The most heavily represented sectors will be health-care and technology, he said, adding that strong earnings reported Tuesday by Microsoft Corp. had gotten the fund off to a good start. The fund was started with about $100 million of assets under management.
Old Kent's fund family, the Kent Funds, comprises 14 no-load funds and manages over $6 billion of assets. -- Amy L. Anderson