Colorado State Bank and Trust in Denver converted $175 million of common trust funds into three no-load mutual funds this week.

The Aristata Mutual Funds, named after Pinus Aristata, a conifer tree native to the Rocky Mountains, will not be managed by the bank. Instead, Denver-based investment adviser Tempest, Isenhart, Chafee, Landsdowne & Associates will manage the portfolios, while ALPS Mutual Funds Services Inc. will distribute them, said H. David Landsdowne, president of Tempest and the funds' portfolio manager.

Tempest had served as investment adviser to the Colorado Trust funds for 21 years, said Mr. Landsdowne. "The bank will simply make these (funds) available to their trust customer," he said.

The funds are: the Aristata Equity Fund, the Aristata Quality Bond Fund, and the Aristata Colorado Quality Tax-exempt Fund.

With $98 million of assets under management, the equity fund will track 60 mainly large-cap companies. The taxable bond fund has $58 million of assets under management and focuses on government agency and corporate debt, excluding junk, said Mr. Landsdowne. The third is a municipal bond fund and has $24.7 million of assets under management.

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