GRAND RAPIDS, Mich. - Old Kent Financial Corp.'s asset management arm announced Tuesday that it is offering three new funds of stocks in hot sectors of the economy.
The Kent Advisor Science and Technology Fund, the Kent Advisor Cascade Fund, and the Kent Advisor Canterbury Fund make up a new fund subfamily, the Kent Adivsors Funds. They bring to 17 the number of funds in the larger Kent Funds family, which has $6.5 billion under management.
The Advisors Funds are geared to take advantage of current market trends, said Joseph Keating, president and chief investment strategist at Old Kent's Lyon Street Asset Management, the adviser for all the Kent Funds.
"Our analysts indicate that these themes will drive certain sectors of the new economy, and that common stocks within these sectors will outpace the overall growth of the economy."
Mr. Keating said the Science and Technology Fund, the most aggressive of the three, will concentrate on technology, health care, and the Internet. The Cascade Fund will focus on small-cap companies in the Russell 2000 index. The Canterbury Fund will focus on large-cap companies with growth potential over the long term.