MEMPHIS, TENNESSEE (March 26, 2007)—Morgan Asset Management announced today that it received a 2007 Lipper Fund Award in recognition of the performance of its Regions Morgan Keegan Select Intermediate Bond Fund Class I (RIBIX) for the 3-year period ended December 31, 2006.
The Lipper Fund Awards are presented annually by Lipper, a wholly-owned subsidiary of Reuters, provides independent insight on global collective investments including mutual funds, retirement funds, hedge funds, fund fees and expenses to the asset management and media communities. Covering over 143,000 share classes and over 75,000 funds domiciled in 59 countries, Lipper is the world's leading fund research and analysis organization.
“We are very pleased to achieve these results for our customers, especially in a challenging fixed income market due to low interest rates,” said James Kelsoe, senior portfolio manager of Morgan Asset Management. “We look forward to meeting the income needs for our customers in the future.”
Regions Morgan Keegan Select Intermediate Bond Fund seeks a high level of income by investing in intermediate maturity, investment grade bonds. The Fund seeks capital growth as a secondary objective when consistent with the Fund’s primary objective. The Fund invests primarily in investment-grade bonds rated, at the time of purchase, BBB- or higher (or a comparable rating) by at least one nationally recognized statistical rating organization or, if unrated, determined by the Fund's investment adviser to be of comparable quality. The type of securities that the Fund may purchase include U.S. government securities, corporate bonds, debentures, notes, preferred stock, mortgage-backed and other asset-backed securities. The Fund may also invest up to 35% of its assets in below investment grade bonds (rated BB+ or lower or comparable rating, commonly referred to as "junk bonds"), convertible securities and common stocks. The average effective maturity of the Fund's portfolio will generally be between three and ten years.
Past performance is no guarantee of future results. The Regions Morgan Keegan Select Intermediate Bond Fund is not FDIC insured, not bank guaranteed and may lose value. A prospectus is available upon request by calling (800) 564-2188 and should be read carefully prior to investing.
About Morgan Asset Management:
Morgan Asset Management, Inc. is the investment advisory arm of Regions Financial Corporation (NYSE: RF). Morgan Asset Management is the investment advisor to Regions Morgan Keegan Trust, Regions Morgan Keegan Select Funds, Morgan Keegan Select Fund, Inc., RMK Advantage Income Fund, Inc., RMK High Income Fund, Inc., RMK Multi-Sector High Income Fund, Inc. and RMK Strategic Income Fund, Inc. With locations throughout the South, Morgan Asset Management, an affiliate of Morgan Keegan & Co. Inc., manages more than $33 billion for institutions and high net worth individuals. Additional information about Morgan Asset Management and Morgan Keegan can be found here Information about Regions — a member of the S&P 100 Index — can be found at www.regions.com.
For more information on RMK Select Funds:
Courtney Hines
Morgan Asset Management
901.374.7810
Media Contact:
Eric Bran
Morgan Keegan & Company, Inc.
901.524-4114
