Formation of Jolley Asset Management, LLC
September 3, 1998
Rocky Mount, N. C. - Frank G. Jolley is pleased to announce the formation of
Jolley Asset Management LLC, an investment advisory firm located in Rocky
Mount, N. C. The firm will provide investment management services for both
individual and institutional clients. Jolley Asset Management will seek to
provide a high level of service and personal attention in helping its clients
reach their financial goals and objectives. "Selecting an investment adviser
is one of the most important financial decisions an individual can make and
the decision should not be taken lightly. It is our desire to make the process
a pleasant one, where the individual will have personal contact and
interaction with the portfolio manager," said Frank Jolley.
Prior to forming Jolley Asset Management, Mr. Jolley served as the Chief
Investment Officer of the Trust Investment Department of Centura Bank, where
he had direct oversight responsibility of $1.2 billion in assets. This
included six mutual funds with total assets of approximately $500,000,000. Mr.
Jolley personally was responsible for the management of two equity mutual
funds for Centura, which had total assets of approximately $250,000,000.
Jolley Asset Management will use a strict value discipline in managing equity
portfolios, focusing on risk-adjusted performance. The research effort will
focus on companies with strong business franchises, trading at a discount to
their estimated private market value.
Mr. Jolley, the President and Chief Investment Officer of Jolley Asset
Management, has over nineteen years experience in investments and financial
analysis. The "Wall Street Journal-Southeast Edition" has quoted Mr. Jolley on
numerous occasions over the past few years based on his experience and
knowledge of investing in southeastern companies. Mr. Jolley is a Chartered
Financial Analyst, a member of the Association for Investment Management and
Research and the Institute of Chartered Financial Analysts. He is also an
active member of the North Carolina of Society of Financial Analysts, where he
served as the Secretary and a Board Member from 1996 through 1998.