Firm Takes Meaningful Step to Provide Further Confidence
In Investment Performance
MEMPHIS, Tenn., June 5 /PRNewswire-FirstCall/ -- Robert P. Langell, chief
investment officer of the National Commerce Financial investment management
group, today announced that the firm has recently completed its Level I
verification of compliance with the Association for Investment Management and
Research (AIMR) Performance Presentation Standards. The verification was
conducted through an intensive examination of investment performance data and
results by an independent auditing firm, and is based on guidelines designed
to provide assurance of consistency and comparability in the performance
results reported by investment managers.
The NCF investment management group includes Commerce Capital Management,
Inc., a registered investment advisor, and the investment management functions
of the trust and wealth management operations of NCF's bank brands: Central
Carolina Bank, National Bank of Commerce and First Market Bank. The NCF
investment management group manages approximately $2.5 billion in
discretionary assets for its clients that include affluent individuals,
trusts, foundations, corporations and other institutions.
"Certain recent events have helped create somewhat of a crisis in
confidence among investors, so it is a timely coincidence that we have
attained this industry distinction," said Langell. "Investors should take
note of the credentials of their investment manager, and AIMR compliance helps
in assuring a firm's integrity. I am proud to say that at NCF, we strive to
consistently deliver excellent risk-adjusted returns in our investment
management efforts, and at the same time, we have measured up to the extremely
high standards set by AIMR." Langell has over 37 years of direct experience
in investment management, administration and operations, with more than
25 years devoted to investment analysis and portfolio management. He is
responsible for all portfolio management and trading activities for the
National Commerce Financial investment management group.
The AIMR Performance Presentation Standards are ethical principles and
guidelines that promote uniformity in reporting investment performance. These
Standards are used primarily by investment managers in the United States and
Canada for creating performance presentations that ensure fair representation
and full disclosure. The Standards allow investors to directly compare the
performance of different investment managers and help to build an environment
of credibility and trust in the investment industry.
The Association for Investment Management and Research is an
international, nonprofit organization of more than 50,000 investment
practitioners and educators in over 100 countries. AIMR's mission is to serve
its members and investors as a global leader in educating and examining
investment managers and analysts and sustaining high standards of professional
conduct. AIMR's members practice in a variety of fields, including investment
counseling and management, banking, insurance, and investment banking and
brokerage firms and are employed as securities analysts, portfolio managers,
strategists, consultants, educators, and other investment specialists.
The National Commerce Financial investment management group claims
compliance with the AIMR Performance Presentation Standards (AIMR-PPS), the
U.S. and Canadian version of GIPS. AIMR has not been involved with or
reviewed the firm's claim of compliance. To receive a complete list and
description of the NCF investment management group's composites or a
presentation that adheres to the AIMR-PPS standards, contact Robert P. Langell
at (901) 415-6462 or at robert.langell@ncfcorp.com.
About NCF
National Commerce Financial Corporation (NYSE: NCF), headquartered in
Memphis, TN, with its operations headquarters in Durham, NC, is a $20 billion-
asset sales and marketing organization that delivers select financial and
consulting services through a national network of banking and non-banking
affiliates. Press releases and additional information can be found at
http://www.ncfcorp.com.
SOURCE National Commerce Financial Corporation
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Related links:
http://www.ncfcorp.com
CONTACT:
Eileen M. Sarro of National Commerce
Financial Corporation, +1-919-683-7642
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