RALEIGH, N.C., Aug. 25 /PRNewswire-FirstCall/ -- Two BB&T mutual funds, sub-advised by Scott & Stringfellow, ranked in the top 1 percent of their respective categories for three- and five-year performance, according to industry rater Morningstar. The rankings for both funds were based on total return of the Class A shares as of June 30.
The BB&T Special Opportunities Fund (BOPAX) was in the top 7 percent for one-year performance among 888 Morningstar mid-cap growth funds. The fund's performance placed it in the top 1 percent for three- and five-year performance among 794 and 658 Morningstar mid-cap growth funds, respectively.
Since its inception on June 2, 2003, the fund has generated a positive return in 18 of 24 calendar quarters, producing a 9.1 percent annualized total return, compared to 1.2 percent for the S&P 500. The fund's returns were -17.94 percent for the one-year period, 0.67 percent for the three-year period and 5.73 percent for the five-year period.
The BB&T Equity Income Fund (BAEIX) was in the top 11 percent of Morningstar large-cap value funds for one-year performance among 1,358 funds. The fund's performance placed it in the top 1 percent for three- and five-year performance among 1,154, and 951 large-cap value funds, respectively.
The fund celebrated its fifth anniversary on June 30th by posting its 14th positive return quarter (vs. 11 for the S&P 500 over the same five-year period), and has generated a 5.39 percent annualized total return since inception on June 30, 2004. The Equity Income Fund has returned -20.56 percent for the one-year period, -1.84 percent for the three-year period and 5.39 percent for the 5-year period.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. For the most current performance information, please visit www.bbtfunds.com.
The gross expense ratio for the Equity Income Fund Class A Shares is 1.41 percent and the net expense ratio is 1.16 percent. The gross expense ratio for the Special Opportunities Fund Class A is 1.50 percent and the net expense ratio is 1.25 percent. The adviser has contractually agreed to limit the management fees paid by the fund for the period from Feb. 1, 2009 through Jan. 31, 2010.
