RALEIGH, N.C., Feb. 24 /PRNewswire-FirstCall/ -- The BB&T Special
Opportunities Equity Fund ranked in the top 1 percent of Morningstar's Mid-Cap
Growth Funds category for the three- and five-year periods, while the newer
BB&T Equity Income Fund ranked in the top 1 percent for three-year performance
in Morningstar's Large Value Funds category.
The rankings for both funds were based on total return of Class A shares
as of Dec. 31, 2008. The BB&T Equity Income Fund has ranked in the top 10
percent of its peer group each year since its inception in 2004.
Both funds have earned Morningstar's highest five-star rating based on
risk-adjusted returns as of Dec. 31.
The BB&T Special Opportunities Equity Fund received 5 stars for the
three- and five-year periods (among 821 and 674 Mid-Cap Growth Funds,
respectively). The Equity Income Fund received 5 stars for the three-year
period among 1,185 Large Value Funds.
The funds are managed by George Shipp CFA, chief investment officer of the
Scott & Stringfellow CHOICE Asset Management team.
"Obviously we are delighted that both of our funds were ranked in the top
1 percent of their categories, particularly considering the talent and
resources employed by our better-known competitors in New York, Boston and
elsewhere," said Shipp, a member of the Scott & Stringfellow CHOICE Asset
Management team. "We have to conclude that the combination of a disciplined
risk-averse approach, flexibility, common sense, and relatively concentrated
portfolios is a winning formula.
"We are indebted to our clients, as well as the advisors of BB&T and Scott
& Stringfellow, for continuing to allocate their savings to the funds through
the worst market conditions in three generations. We believe the portfolios
are well positioned for the uncertainties and opportunities of 2009 and
beyond."
CHOICE Asset Management is a team of seven that manages approximately $2
billion in client assets, including $600 million in the mutual funds it
sub-advises for the BB&T family of funds, and four separately managed
portfolios.
The CHOICE Asset Management team also includes Farley Shiner, CFA; Griff
Jones; Josh Haggerty, CFA; Adam Bergman, CFA; Tripp Boyd and Monica Kidd.
"George and his team continue to deliver exceptional value to our
shareholders," said Jeff Schappe, Chief Investment Officer of BB&T Asset
Management. "We are pleased to see the industry recognize the great talent and
skill that George displays."
The Special Opportunities Equity Fund seeks long-term capital appreciation
by investing in a blend of underappreciated value stocks and emerging growth
stocks. The Equity Income Fund seeks capital growth and current income.
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.
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.
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.
With $152 billion in assets, BB&T Corporation is the nation's 11th largest
financial holding company. Founded in 1872, it operates more than 1,500
financial centers in 11 states and Washington, D.C. More information about the
company is available at www.BBT.com.
Past performance is no guarantee of future results. The Special
Opportunities Fund received a percentile ranking based on total return of 5
percent for the one-year period, 1 percent for the three-year period and 1
percent for the five-year period among 934, 821 and 674 Mid-Cap Growth Funds,
respectively.
The Equity Income Fund received a percentile ranking of 2 percent for the
one-year period and 1 percent for the three-year period among 1,433 and 1,185
Large Value Funds, respectively. The highest Morningstar ranking is 1 percent
while the lowest is 100 percent. Other share classes may have different
performance characteristics and ratings.
Mutual fund investing involves risk, including the possible loss of
principal. Funds that invest in equity securities may be more volatile than
other forms of investments and the value of the Fund will fluctuate with
market conditions.
For more complete information on the BB&T Funds, you may request a
prospectus by calling 1-800-228-1872 (Option 1), or by visiting
www.bbtfunds.com. You should consider the fund's investment objectives, risks,
charges and expenses carefully before you invest or send money. This and other
important information is contained in the prospectus, which should be read
carefully before investing.
