Feb. 13, 2003 — Trusco Capital Management Inc., which oversees the STI Classic fund family, said it acquired a mid-cap stock product that it will combine with STI Classic Fds MidCap Equity Fund/Inv (SCAIX). The company also named new managers for the fund.
Trusco acquired the investment product from D.A. Capital Management LLC. The amount of assets acquired and terms of the transaction were not disclosed.
Trusco said Kevin Shea, a principal with D.A. Capital, will manage the STI MidCap Equity fund with Chad Deakins, who also oversees two STI international stock funds. They replace John Hamlin, who left STI to pursue other interests, a Trusco spokeswoman said.
Shea, who managed individual accounts for D.A. Capital, invests in growing companies and undervalued stocks, but favors growth investments, the spokeswoman, Elizabeth Wilson, said. Shea could not be reached for comment.
Deakins runs STI Classic Fds Intl Equity Fund/Inv (SCIIX) and STI Classic Fds Intl Equity Index Fund/Inv (SIIIX).
The STI MidCap Equity fund, which Hamlin managed for nearly four years, lost 29.1% in 2002, while its peer mid-cap growth funds were off 25.9%. The portfolio carries a 3-Star rank from Standard & Poor’s.