proprietary mutual fund for next year.
The Shelby Large-Cap Growth Fund is to be launched either April 1 or July 1, said trust officer Thomas D. Mueller. Its portfolio, which now operates as a common trust fund, has about $25 million of assets under management.
The bank's Shelby Fund invests in growth stocks and manages about $40 million of assets.
Like its predecessor, the large-cap fund is to be sold to the bank's trust clients as well as through broker-dealers and financial planners. But Mr. Mueller said the fund might find an alternative outlet since the bank is considering hiring licensed brokers to sell securities and mutual funds in its branches.
"Most of our competitors are doing it, and we already have an advantage since we have our own proprietary fund," he said.
Shelby County Trust is a subsidiary of $180 million-asset Commonwealth Bancshares Inc., also based in Shelbyville.
-- Amy L. Anderson