Business News
WesMark Growth Fund and WesMark Government Bond Fund Named Lipper Leaders
2008-07-29 09:49:00
WesMark Growth Fund and WesMark Government Bond Fund Named Lipper Leaders
WHEELING, W.Va., July 29 /EMWNews/ -- The WesMark Growth Fund (Nasdaq: WMKGX) and the WesMark Government Bond Fund (Nasdaq: WMBDX), managed by the WesBanco Investment Department of WesBanco Trust and Investment Services, a division of WesBanco Bank, Inc. (Nasdaq: WSBC), were recognized by Lipper, Inc. as Lipper Leaders. The WesMark Growth Fund was recognized as a Lipper Leader in the Total Return and Preservation categories as of 6/30/2008 out of 692 and 9026 funds, respectively. The WesMark Government Bond Fund was recognized in the Preservation category as of 6/30/2008 out of 4132 funds. The WesMark Growth Fund is in the US Mutual Fund sector, Large Cap Core and the WesMark Government Bond Fund is in the US Mutual Fund sector, General U.S. Government Funds. According to Lipper, only about 20% of all funds tracked by Lipper qualify for these ratings. "We're excited to have earned this recognition from Lipper, a highly respected expert in fund evaluation," said Jerry Schmitt, Executive Vice President of WesBanco Trust and Investment Services, who manages the WesMark Growth Fund and the WesMark Government Bond Fund with David Ellwood, Senior Vice President, Trust and Investment Services. "A fund named a Lipper Leader for Total Return has shown a strong trend of solid long-term performance compared to its peers. A fund that received the Lipper Leader for the Total Return designation has delivered performance topping 80% of its competitors," cites Mr. Ellwood. The WesMark Growth Fund, with assets of nearly $257 million as of March 31, 2008, pursues capital appreciation by investing in a diversified portfolio of equity securities of companies with prospects for above-average, long-term growth in earnings. The portfolio managers focus on selecting growth-oriented stocks of large- or mid-capitalization companies that are expected to achieve above-average profitability, based on measurements such as operating profit margin and return on equity. The WesMark Government Bond Fund, with assets of over $202 million as of March 31, 2008, endeavors to provide investors with a high level of current income consistent with preservation of capital. The Fund invests primarily in U.S. government securities, including U.S. Treasury securities as well as securities of U.S. government sponsored entities. The Fund's portfolio may also include investment-grade corporate debt securities. The WesMark Growth Fund and WesMark Government Bond Fund are part of the $630 million WesMark Fund family, which is managed by WesBanco Investment Department. Introduced in 1997, the WesMark Funds consist of five stock, bond, and balanced funds. The administrator and distributor of the funds since 1997 have been subsidiaries of Pittsburgh-based Federated Investors, Inc. The initial minimum investment for the WesMark Funds is as low as $1,000 ($500 for IRAs). Subsequent investments can be made in amounts of at least $100. For additional information about the WesMark Family of Funds visit http://www.wesmarkfunds.com and select information about Trust and Investment Services. Prospective investors can call 800-864-1013 for more complete information, including a prospectus. Investors should carefully consider the fund's investment objectives, risks, charges, and expenses before they invest. Information about these and other important subjects is in the fund's prospectus, which should be read carefully before investing. Past performance is no guarantee of future results. Footnotes: Lipper Leaders measures analyze past fund performance, and investors should remember that past performance is no guarantee of future results. Lipper Leaders' status is calculated monthly using data available at the time of calculation; Lipper undertakes no responsibility for updating the calculations more frequently than monthly to incorporate more current data. For more information, please email [email protected] Lipper ratings for Total Return reflect funds' historical total return performance relative to peers as of 6/30/08. The ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. WesMark Growth Fund, in Lipper's Total Return classification, received the following ratings for the 3-, 5- and 10-year periods respectively: 5, 3, and 5 out of 692, 574 and 323 funds. Lipper ratings for Preservation reflect funds' historical loss avoidance relative to other funds within the same asset class, as of 6/30/2008. The ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Preservation metric over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Preservation, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. WesMark Growth Fund in Lipper's Preservation classification received the following ratings for the 3 year, 5 year and 10 year periods, respectively: 5, 4, and 4 out of 9026, 7221 and 3352 funds. WesMark Government Bond Fund in Lipper's Preservation classification received the following ratings for the 3 year, 5 year, and 10 year periods, respectively: 5, 5, and 5 out of 4132, 3625 and 2342 funds. WesBanco Bank, Inc. is a Member FDIC. Trust and Investment Services may invest in insured deposits or nondeposit investment products. Nondeposit investment products are not FDIC insured not bank guaranteed, not insured by any government entity and are subject to investment risk including the risk of possible loss of the principal amount invested. Edgewood Services, Inc. is the distributor of the WesMark Funds.
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