|By PR Newswire||
|August 6, 2014 05:00 AM EDT||
CHARLOTTE, N.C., Aug. 6, 2014 /PRNewswire/ -- Sterling Capital Funds is pleased to announce the 10-year anniversary of the Sterling Capital Equity Income Fund (BEGIX). The fund has been managed by George F. Shipp, CFA, since its inception 10 years ago on June 30, 2004.
The fund has enjoyed a long record of outperforming other mutual funds within the Lipper Equity Income category. As of June 30, 2014, the fund's Lipper ranking (based on total return) places the Class I shares in the top 3 percent for the 10-year period among 159 funds.
As of June 30, 2014, the fund had a return of 14.03 percent, 13.62 percent, 16.52 percent and 10.96 percent for the 1-, 3-, 5-and 10-year periods, respectively.
"Obviously we are delighted we were able to generate attractive growth for our clients' capital over time," Shipp said. "We have been very fortunate, but the outcome was driven by a disciplined investment process that is unchanged. The good news for shareholders is our team is intact, our value-driven philosophies are time-tested, and our resolve to think independently has only strengthened over time. We will strive to continue this record of out-performance."
Alex McAlister, president of Sterling Capital Management, weighed in on the success of the Equity Income Fund.
"We are very pleased for shareholders who have participated in the success of the fund and are thrilled with the fund's performance record for the first 10 years," McAlister said. "We believe George's team structure contributes to the success of the fund and the additional portfolios they manage. The team's arrangement encourages a lively discussion about every idea considered, so that only the perceived best ideas emerge as portfolio candidates."
Andrew Tate, CFA, managing director at Sterling Capital Management noted, "The long-term success of the fund is a by-product of a sound process, a consistent team and a belief that it is possible to deliver excess return while assuming less risk. We all look forward to the next 10 years."
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so an investor's shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month-end and information on other share classes, please visit www.SterlingCapitalFunds.com. The total expense ratio for the fund's Class I shares is 0.97 percent.
The fund is a concentrated portfolio of 24-30 core stocks that focuses on companies with above average yields and a history of growing dividends as it seeks the best perceived combination of underlying stock growth potential at the lowest available valuation. The team uses screens and various forms of in-depth research to search for stocks that have the dividend characteristics and meet valuation, growth and financial strength objectives, while identifying themes that transcend day-to-day economic news flows.
For more information on Sterling Capital Equity Income Fund and our diverse family of mutual funds, please contact one of our consultants at 888-228-1872.
Lipper rankings are based on total return, including the reinvestment of dividends and capital gains but do not include sales charges for the periods indicated. Rankings shown are for Class I shares and may be lower for Class A shares due to higher fees and expenses. Rankings are relative to a peer group and do not necessarily mean the fund had high total returns.
Mutual funds are assigned a rank within a universe of funds similar in investment objective as determined by Lipper. The highest percentile rank is 1 percent and the lowest is 100 percent. As of June 30, 2014, the fund received the following percentile ranks, 97 percent for the 1-year, 68 percent for the 3-year, 66 percent for the 5-year and 3 percent for the 10-year time period among 450, 317, 269 and 159 in the Equity Income Fund category, respectively.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the fund, please call 888-228-1872 or visit our website at www.SterlingCapitalFunds.com. Read the prospectus carefully before investing.
Investment Considerations –
The fund is subject to investment style risk, which depends on where the fund is primarily invested. An investment in growth stocks may be particularly sensitive to market conditions while value stocks may be undervalued for longer than anticipated. The fund may invest in foreign securities subject to risks such as currency volatility, political and social instability or small capitalization companies subject to greater volatility and less liquidity due to limited resources or product lines. The fund may engage in writing covered call options. By selling covered call options, the fund limits its opportunity to profit from an increase in the price of the underlying stock above the exercise price, but continues to bear the risk of a decline in the stock.
The funds are distributed by Sterling Capital Distributors, LLC.
Investment advisory services are available through Sterling Capital Management LLC, a separate subsidiary of BB&T Corporation. Sterling Capital Management LLC manages customized investment portfolios, provides asset allocation analysis and offers other investment-related services to affluent individuals and businesses. Securities and other investments held in investment management or investment advisory accounts at Sterling Capital Management LLC are not deposits or other obligations of BB&T Corporation, Branch Banking and Trust Company or any affiliate, are not guaranteed by Branch Banking and Trust Company or any other bank, are not insured by the FDIC or any other government agency, and are subject to investment risk, including possible loss of principal invested.
SOURCE Sterling Capital Funds