Centura Equity Growth Fund Receives Five Star
Rating From Morningstar
ROCKY MOUNT, N.C. -- Centura Funds and Centura Bank today announced that the
Centura Equity Growth Fund Class C, Institutional Shares received
Morningstar's top rating of five stars. The rating is based on the Fund's s
overall investment performance for the three year period ended August 31,
1997. The Fund ranked 374th for its three year performance among 2,092
domestic equity funds rated by Morningstar.
Morningstar, an independent mutual fund research leader, appraises both
investment return and risk in rating more than 7,300 mutual funds. Its
proprietary rating system reflects risk-adjusted performance. The ratings are
subject to change every month. Morningstar ratings are calculated from a
fund's three, five and ten year returns in excess of 90-day Treasury Bill
returns and a risk factor that reflects fund performance below 90-day Treasury
Bill returns. Ten percent of the funds in an investment category receive 5
stars, 22.5% receive four stars.
"We are pleased that our investment performance has been recognized by
Morningstar in this manner," said Frank Jolley, Centura Equity Growth Fund's
portfolio manager. "Maintaining our disciplined value approach to equity
investing has provided our clients with solid performance without excessive
risk, relative to the market."
Centura Equity Growth Fund's objective
is to provide investors long-term capital appreciation by investing primarily
in a diversified portfolio of publicly traded common and preferred stocks and
securities convertible into or exchanged for common stock.
Centura Funds is a family of five mutual funds with more than $420 million in
assets. The Centura Equity Income Fund and the Centura Southeast Equity Fund
were recently added to the Fund family, allowing shareholders to further
allocate assets and diversify risk utilizing Centura's value approach to
In addition to Class C shares, available to Centura Bank's trust clients,
Centura Funds are offered by prospectus in two retail share classes. Class A
shares are sold with a front-end sales charge or load. Class B shares are sold
without a front-end load, but are subject to back-end charges if redeemed
within five years of purchase. The Equity Growth Fund Class A Shares and Class
B Shares received four star rankings for their three year performance among
the 2,092 domestic equity funds rated by Morningstar as of August 31, 1997.
Shares of Centura Funds are not FDIC insured, are not bank guaranteed and may
lose value. It is also important to understand that past performance is not an
indication of future results. A prospectus detailing Fund expenses as well as
investment performance is available by calling 1-800-44-CENTURA. Potential
investors are advised to read the prospectus carefully prior to investing.
Centura Bank serves as investment
advisor to the Funds and is paid a fee for its services, and is not affiliated
with Centura Funds Distributor, Inc., the Fund's distributor.