CINCINNATI, Jan. 31 /PRNewswire-FirstCall/ -- The Fifth Third Funds announced today the addition of the High Yield Bond Fund to its existing array of 34 mutual fund options. The Fund seeks to provide investors with a high level of income and the potential for capital appreciation. The Fund may be particularly appropriate for investors who want to reduce the volatility of an all-stock portfolio.
"The High Yield Bond Fund makes it possible for investors to create a diversified portfolio of Fifth Third Funds that features 12 style classes," says E. Keith Wirtz, president and chief investment officer for Fifth Third Asset Management, Inc. (FTAM), advisor for the Fifth Third Funds. "Research shows that adding high yield bonds to a diversified portfolio has the potential to increase return and reduce risk over the long term."
To accomplish this, the High Yield Bond Fund portfolio management team invests in the high-quality segment of the high yield market. The Team selects bonds they believe will outperform over a full market cycle and make the fund competitive with its benchmark, the Merrill Lynch High Yield Master Index. Asset managers focus on industries that have had stable and predictable cash flow and avoid those bonds with the lowest credit ratings.
FTAM has partnered with Fort Washington Investment Advisors, Inc. (Fort Washington) to offer investors the High Yield Bond Fund. FTAM has over $21 billion in assets under management as of December 31, 2005 and has over 30 years of money management experience. Fort Washington, a member of Western & Southern Financial Group(R) in Cincinnati, has managed high yield bond portfolios for investors since 1994. The firm currently manages high yield bond assets of $2.3 billion. The Fund's portfolio managers -- Fort Washington's Brendan White, CFA, and FTAM's Mitchell L. Stapley, CFA -- have over 40 years of combined industry experience.
"We invest in higher quality segments of the High Yield Fixed Income market," explains White. "We believe this offers the best alignment of risk and return, which provides the most favorable opportunity to outperform over a full market cycle while maximizing potential risk-adjusted returns."
As with all of Fifth Third Asset Management's investment portfolios, the High Yield Bond Fund benefits from a disciplined investment approach designed for style consistency and performance over the long term.
The Fifth Third Funds has $12 billion in assets under management and 35 mutual funds that span the risk/reward spectrum. Four major investment styles -- Growth, Value, Core, and Fixed-Income -- provide meaningful diversification. Three alternative strategies -- Specialty, Asset Allocation, and Strategic Income -- help meet the unique needs of individual investors. Fifth Third offers five LifeModel Funds that enable investors to match a diversified portfolio with their individual risk tolerance.
FTAM is an SEC-Registered Investment Advisor and an indirect wholly-owned subsidiary of Fifth Third Bancorp. FTAM is a diversified asset management firm providing investment advisory services to institutional investors, private accounts, and mutual funds offering value, growth, core, and quantitative equity strategies as well as short term, intermediate, and core fixed income strategies. Through teams of experienced and knowledgeable investment professionals, advanced research resources and a disciplined approach, FTAM's goal is to produce superior, long-term investment results and client satisfaction.
High yield bonds may have higher yields and are subject to greater credit and market risk than higher-rated fixed income securities.
An investor should consider the fund's investment objective, risks, and charges and expenses carefully before investing or sending money. This and other important information about the investment company can be found in the fund's prospectus. To obtain a prospectus, please call 1-800-282-5706 or visit http://www.53.com/. Please read the prospectus carefully before investing.
About Fort Washington Investment Advisors, Inc.
Fort Washington Investment Advisors, Inc. (Fort Washington), a registered investment adviser under the Investment Advisers Act of 1940, as amended from time to time, provides professional and comprehensive investment management services for institutions, corporations, insurance companies, mutual funds, foundations, associations and high-net-worth individuals. Founded in 1990, Fort Washington manages more than $25.7 billion in assets*, offering a broad array of investment styles from equity and fixed income to private equity limited partnerships. Fort Washington is a member of Western & Southern Financial Group(R). For more information, visit http://www.fortwashington.com/.
* As of 12/31/05 does not include Todd Investment Advisors, Inc., a wholly owned subsidiary, with $3.5 billion in assets; or Fort Washington Capital Partners Group, a division for Fort Washington Investment Advisors, Inc., with more than $1 billion in commitments and assets under management.
First Call Analyst:
FCMN Contact: stephanie.hagen@53.com
