RALEIGH, N.C., Aug. 22 /PRNewswire-FirstCall/ -- George F. Shipp,
manager of the BB&T Special Opportunities Equity Fund was named a Top 100
fund manager in the recently released Barron's/Value Line survey.
The mutual-fund survey grades managers according to how well they
performed on a risk-adjusted basis compared to others with the same
investment objective.
Shipp's Special Opportunities Equity Fund was ranked 24th in the Top
100. The 100 award winners in nine investment categories were drawn from
among 1,008 equity funds that met the initial survey requirements.
"George and his team continue to deliver exceptional value to our
shareholders," said Keith F. Karlawish, president of BB&T Funds. "We are
pleased to see the industry recognize the great talent and skill that
George displays."
The 13th annual Barron's/Value Line survey, from the Aug. 11 edition of
Barron's, cites investment professionals who consistently beat peers over a
period of at least three years, without undue volatility in returns.
The Special Opportunities Equity Fund, one of 24 BB&T Funds, seeks
long-term capital appreciation by investing in a blend of underappreciated
value stocks and emerging growth stocks.
For the three- and five-year periods that ended June 30, the
Barron's/Value Line survey cited the fund's compound annual returns of 10.5
percent and 15.7 percent, versus S&P 500 Index returns of 4.4 percent and
7.6 percent over the same periods.
"We are very pleased that Barron's and Value Line saw fit to rank our
fund in their Top 100," said Shipp, chief investment officer at BB&T
subsidiary Scott & Stringfellow Inc. and CHOICE Asset Management. "What is
perhaps most gratifying is that, unlike most rankings based solely on
performance, the Barron's methodology took volatility into full account.
"Our team's conservative nature has complemented a disciplined
stock-picking process, proving especially helpful during recent months of
market turmoil. We look forward to extending our successful track record in
the months and years ahead."
Shipp, a chartered financial analyst who also manages the BB&T Equity
Income Fund, has more than 25 years of investment management experience.
The BB&T Funds offer 24 mutual funds covering a broad spectrum of
equity and fixed-income styles, including value and growth stock funds that
target the large-cap, mid-cap and small-cap sectors, and bond funds that
focus on the government, corporate and municipal markets. Two money-market
funds also are included in the lineup. The funds had more than $5 billion
in assets under management on June 30.
The Special Opportunities Equity Fund's Class A shares, after a 5.75
percent sales charge, returned -9.42 percent year-to-date. For the one-,
three- and five-year periods ending June 30, its returns were -9.17
percent, 8.35 percent and 14.34 percent, respectively. The fund has
returned 14.09 percent since its inception on June 2, 2003. Past
performance does not guarantee future results. The performance data quoted
represents past performance and current returns may be higher or lower. The
investment return and principal value of an investment will fluctuate so
that an investor's shares, when redeemed, may be worth more or less than
the original cost. Performance information for the most recent month-end is
available at http://www.bbtfunds.com . The gross expense ratio for Class A
shares is 1.49 percent.
By comparison, the S&P 500's return year-to-date is -11.90 percent. For
the one-, three- and five year-periods ending June 30, its returns were
-13.10 percent, 4.42 percent and 7.59 percent, respectively.
BB&T Asset Management Inc., a wholly owned subsidiary of Winston-Salem,
N.C.-based BB&T Corporation (NYSE: BBT), serves as investment adviser to
the BB&T Funds and is paid a fee for its services. The funds are
distributed by BB&T AM Distributors Inc., which is not affiliated with BB&T
Corp. principal subsidiary Branch Banking and Trust Company or its
affiliates.
With $136.5 billion in assets, BB&T Corp. is the nation's 14th largest
financial holding company. It operates nearly 1,500 financial centers in 11
states and Washington, D.C. More information about the company is available
at http://www.BBT.com .
Scott & Stringfellow Inc. (member NYSE/SIPC), a wholly owned nonbank
subsidiary of BB&T Corp., serves as subadviser to the Fund and is paid a
fee for its services.
The securities sold, offered or recommended by Scott & Stringfellow
Inc. -- including mutual funds, annuities and other such investments -- are
not deposits, not FDIC-insured, not guaranteed by Branch Banking and Trust
Company or its affiliates, not insured by any government agency and may go
down in value.
The Standard & Poor's 500 (S&P 500) is a broad market index that is
generally considered the benchmark for U.S. equity performance. It is not
possible to invest directly in an index.
Equity securities are more volatile and carry more risk than other
forms of investments, including investments in high-grade fixed income
securities. The net asset value per share of the BB&T Special Opportunities
Equity Fund will fluctuate as the value of the securities in the portfolio
changes.
For more complete information on the BB&T Funds, including a
prospectus, call 1-800-228-1872 (Option 1), or visit
http://www.bbtfunds.com . Consider the fund's investment objectives, risks,
charges and expenses carefully before investing or sending money. This and
other important information is contained in the prospectus, which should be
read carefully before investing.
SOURCE BB&T Corporation
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Related links:
http://www.BBT.com
http://www.bbtfunds.com
http://www.prnewswire.com/comp/809325.html /
CONTACT:
George F. Shipp, Chief Investment Officer of
Scott & Stringfellow, Inc., +1-757-417-4900; or Jeffrey Schappe,
Chief Investment Officer of BB&T Asset Management,
+1-919-716-6249, or Jeff Nichols, Vice President of BB&T Corp.
Communications, +1-336-733-1472
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