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June 24, 2003 at 08:00 PM
June 20, 2003 — Armada Funds said Dan Bandi, Adam Friedman and Daniel DeMonica, who helped manage three of its stock funds, have resigned to “pursue other business opportunities.”
The three men were part of the team that oversees Armada Small Cap Value Fund/A (AMRRX), Armada Small Mid Cap Value Fund/A (ARVAX) and Armada Large Cap Value Fund/A (AEIRX).
They have been replaced on those funds by Mary Jane Matts and Michael Santelli, value-oriented investors who are members of the equity management team at National City Investment Management Co., a unit of Natl City Corp (NCC) that oversees the fund family. Matts and Santelli joined portfolio manager Alex Vallecillo on the three funds.
