A Mississippi bank just launched two new mutual funds. Hancock Bank unveiled the Hancock Horizon Diversified International Fund and the Hancock Horizon Quantitative Long/Short Fund Thursday. Hancock has approximately $1 billion in mutual fund assets.
Company Press Release
GULFPORT, Miss., Oct 2, 2008 (GlobeNewswire via COMTEX) -- Hancock Horizon Funds announced today that they have launched two new mutual funds: the Hancock Horizon Diversified International Fund and the Hancock Horizon Quantitative Long/Short Fund.
John Portwood, Chief Investment Strategist for Hancock Bank, said, "We are excited to add these two new mutual funds to our fund family and believe they will provide our clients with more options to further diversify their investment portfolios. We have been very successful in growing our fund complex from $245 million to nearly $1 billion in assets under management. This growth is a testament to the success and appeal of a sound investment philosophy."
The Diversified International Fund is sub-advised by EARNEST Partners, an Atlanta-based investment firm with over $20 billion in assets under management. EARNEST Partners has vast experience managing international investments, and Hancock Horizon Funds believes they will do an exceptional job of managing the assets while constraining downside risk.
Trey Greer, a partner at EARNEST Partners, said, "EARNEST Partners is delighted to be partnered with Hancock Horizon Funds. Although this is a new fund, EARNEST Partners has been managing international portfolios for over nine years and has generated consistent out-performance over that time period. With our disciplined process and an established team, we believe we will have a good chance of continuing to provide long-term out-performance for investors in the fund."
The Hancock Horizon Diversified International Fund seeks long-term capital appreciation by investing in equity securities of foreign companies. The Fund is diversified across currencies, regions, and countries, including emerging market countries. The Fund will have a core style and utilize a fundamental, bottom-up investment process. Its objective is to outperform the MSCI ACWI ex U.S. index while controlling for downside risk and volatility.
The Quantitative Long/Short Fund invests in both long and short positions of U.S. equity securities across all market capitalizations. The Fund buys and holds "long" positions in stocks that are believed to be "undervalued" and expected to appreciate in price. Short equity positions are taken in stocks the Fund believes are "overvalued" and should depreciate in price. The Fund will have short positions of 0-35 percent of the Fund's total assets.
Portwood further commented, "In difficult markets, like the one we are currently experiencing, we believe our ability to short securities will be an advantage to the Fund and its shareholders. For years, Hancock Horizon Funds has employed long-only quantitative investment strategies. Going forward, we believe that our investment process will prove to be equally valuable when applied to our long/short strategy."
Mutual fund investing involves risk including loss of principal. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principals, or from social, economic or political instability in other nations. With short sales, you risk paying more for a security than you received from its sale.
The Morgan Stanley Capital International (MSCI) All Country World ex-US Index is a free float-adjusted market capitalization weighted index composed of approximately 2000 companies, and is representative of the market structure of 47 developed and emerging market countries in North and South America, Europe, Africa, and the Pacific Rim, excluding securities of U.S. issuers. Individuals cannot invest directly in an Index.
To determine if a Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Fund's prospectus, which may be obtained by calling 1-888-346-6300 or visiting www.hancockhorizonfunds.com. Please read it carefully before investing.
Hancock Horizon Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Hancock Holding Company or any of its affiliates.
About Hancock Bank
Hancock Holding Company (HBHC:
Hancock Holding Co-- parent company of Hancock Bank Mississippi, Hancock Bank of Louisiana, Hancock Bank of Florida, and Hancock Bank of Alabama -- has assets of approximately $6.2 billion. Bank subsidiaries include Hancock Investment Services, Inc., Hancock Insurance Agency, and Harrison Finance Company. Founded October 9, 1899, Hancock Bank consistently ranks as one of the country's strongest, safest financial institutions according to Veribanc, Inc., and BauerFinancial Services, Inc. Additional corporate information and online banking are available at www.hancockbank.com.
Not FDIC insured. No bank guarantee. May lose value.
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