- Charissa Brinkman 513.534.5204
Fifth Third Asset Management, Inc. Releases Strong Performance Numbers
Fifth Third Asset Management, Inc. (FTAM) is proud to announce that its investment performance results for the first quarter may be its best this decade. FTAM supports and markets a broad array of investment strategies growth, value, core, quantitative and fixed income. Of the 20 products it actively markets, all exceeded their benchmark, as of March 31, 2007. “The capital markets have been extremely volatile so far this year and we are proud of our returns. Our performance speaks to the strength of FTAM’s strategies and the talent of our portfolio managers,” adds E. Keith Wirtz, FTAM’s President and Chief Investment Officer.
Located in Minneapolis, Minnesota, FTAM’s five distinct growth equity strategies generated positive and competitive return numbers for the quarter. The Small Cap Growth Strategy had a particularly strong quarter, posting a gross return of 6.33%, versus the 2.48% return of the Russell 2000 Growth Index.
The Value Team, located in Cleveland, Ohio also generated successful investment results in all strategies: Large Cap, Mid Cap, Small Cap, Micro Cap, and All Cap Value. Of particular note, the All Cap Value Strategy generated a return of 3.17%, gross of fees for the quarter, compared to the Russell 3000 Value Index’s return of 1.28%.
The Enhanced Large Cap Core Strategy managed by the Quantitative Team in Cleveland produced strong performance results this quarter with a gross return of 1.30%, compared to its benchmark, the S&P 500 Index’s return of 0.64%. The 3-year gross return number is 11.43%, compared to the benchmark return of 10.06%. Rick Ille, Managing Director of Products and Marketing, adds, “In this type of market, it is unusual to have all sides of the investment firm doing so well. Our first quarter results are a powerful testament to FTAM’s disciplined investment processes across all strategies.
FTAM is an SEC-Registered Investment Adviser and an indirect wholly-owned subsidiary of Fifth Third Bancorp. All references to performance are gross of investment management and other fees. FTAM is a diversified asset management firm providing investment advisory services to institutional investors, private accounts, and mutual funds offering value, growth, core, and quantitative equity strategies as well as short-term, intermediate, and core fixed income strategies. Through teams of experienced and knowledgeable investment professionals, advanced research resources and a disciplined approach, FTAM’s goal is to produce superior, longterm investment results and client satisfaction.
The firm is headquartered in Cincinnati, Ohio with offices in Grand Rapids, Michigan; Cleveland, Ohio; Minneapolis, Minnesota; Pittsburgh, Pennsylvania; and New York, New York. As of March 31, 2007 FTAM had over $21.6 billion in assets under management.