FOR IMMEDIATE RELEASE 11/28/01
CONTACT: Kristine Cook
(303) 312-5003
kcook@westcore.com
NEW MANAGEMENT TEAM TO
LEAD WESTCORE SELECT FUND
Denver_Longtime Westcore Funds
Portfolio Manager Todger Anderson, CFA, and Director of Mid-Cap Research,
William S. Chester, CFA, will assume management responsibilities for
Westcore Select Fund on December 1, 2001, replacing Gerald W. Peterson,
CFA, who is leaving the firm to pursue entrepreneurial interests.
Westcore Select Fund is a concentrated
fund, investing primarily in 20 to 35 common stocks of any size. Mr.
Anderson, who also serves as President of the Fund's adviser, Denver
Investment Advisors, and Mr. Chester will maintain the existing mandate,
focusing on companies with above-average revenue and earnings growth
prospects.
"We've enlisted our two
most prominent and experienced stock-pickers," said Jeffrey D. Adams,
Executive Manager of Denver Investment Advisors. "Together, they make
a formidable team that's committed to utilizing the best ideas and
research we have to offer, as well as working to keep the Fund's already
strong record intact." As of September 30, 2001, Westcore Select Fund
produced an average annual return of 44.31% since inception (10/1/99) and
-22.58 for the one-year period. The Fund's benchmark, the S&P 500
Index, returned -8.82% and -26.61% for the same periods, respectively.
Although Westcore Select Fund
is aggressive in nature, valuation will continue to play an important role
in the research process. "Given our long-term investment
horizon," said Mr. Anderson, "the Fund will pay close attention
to valuation, pursuing growth at a reasonable price across a range of
industries and market capitalizations."
Since its founding more than four decades
ago, Denver Investment Advisors has built a long history of research
excellence. Through Westcore Funds, individual investors gain access to
the full depth and breadth of this experience, commonly available only to
large corporations and foundations. Today, with over $6 billion in
combined assets under management,* the 100% no-load Westcore Fund family
consists of nine equity funds, three bond funds, and a non-proprietary
money market fund.
# # #
*These assets include total assets of the adviser as
well as mutual fund assets.
Westcore Select Fund is a concentrated fund.
Investing in concentrated funds can be more volatile and loss of principal
could be greater than investing in more diversified funds.
Past performance is not indicative of future
results. Average annual total returns
reflect the reinvestment of dividends, capital gains distributions, all
fee waivers and expense reimbursements. Without the absorption of fee
waivers and expense reimbursements, total return figures would have been
lower. Total return represents past performance. 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 their original cost.
Westcore Fund shares are not insured by the FDIC, the Federal Reserve
Board or any other agency and are subject to investment risk.
The S&P 500 Index is a broad-based measurement
of changes in stock market conditions based on the average performance of
500 widely held common stocks. It is an unmanaged index.
For more information about Westcore Funds, or to
obtain a prospectus,
which contains more complete information regarding potential risks and
applicable fees and expenses, please visit our web site, www.westcore.com
or call 1-800-392-CORE (2673). Please read the prospectus
carefully before you invest or send money.
Westcore Funds are distributed by ALPS Distributors,
Inc. |
