Riggs National Corp., Washington, is changing the name of its fund family, said Ronald A. Marsilia, president of Riggs Investment Management Corp., the banking company's money management arm.
The Monument Funds will be renamed the Riggs Funds, effective about June 1. That will distinguish the portfolios from competing products with similar names, Mr. Marsilia said.
"The brand recognition is there with Riggs," Mr. Marsilia said. "It's an incredible name."
Riggs' move is part of an effort to bolster sales of its five-portfolio fund family.
The campaign is being led by James R. Eads, former head of Signet Banking Corp.'s brokerage who was hired in January as managing director of Riggs & Co., a unit that markets the mutual funds.
The banking company's proprietary funds, largely made up of converted trust fund assets, had $792.1 million of assets under management at March 31, according to Lipper Analytical Services.