Products March 9, 2010

Eagle Investment Grade Bond Fund Launched

March 9, 2010 (PLANSPONSOR.com) - Eagle Asset Management's Eagle Investment Grade Bond Fund opened to investors March 1, 2010.
Reported by

According to a press release, modeled on Eagle’s established High Quality Taxable fixed-income separately managed accounts (SMA) portfolio, the Investment Grade Bond Fund seeks the capital preservation and portfolio stability that are fundamental to a conservatively managed fund. The new fund will generally invest in individual intermediate- and short-term securities that the portfolio managers believe offer returns similar to longer duration bonds with considerably less risk.

The benchmark for the Eagle Investment Grade Bond Fund is Barclays Capital Intermediate Government/Credit Index. The net expense ratio is estimated to be 0.85% for Class A shares, and share class pricing options are also available to serve the retirement-plan markets and for individual investors who meet certain eligibility requirements, the announcement said.

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In addition to the Class A share class (EGBAX), the Eagle Investment Grade Bond Fund is available in the following share classes: C (EBBCX), I (EGBLX), R-3 (ECBRX) and R-5 (EGBTX) shares. Eagle will market the new share classes through financial advisers and planners at broker-dealers, investment consulting firms and defined contribution-investor only specialists. 

The fund is co-managed by James Camp, CFA and Joe Jackson, CFA.

For more information, go to http://www.eagleasset.com.

Deals and People March 9, 2010

Northern Trust Announces New Head of Consultant Relations

March 9, 2010 (PLANSPONSOR.com) - David McPhillips has been named Director of Consultant Relations for Northern Trust's Corporate & Institutional Services business unit in North America.
Reported by

In this role, McPhillips will work closely with client service, sales, product development, and operations teams to manage the asset servicing unit’s interaction with North American consultants.

According to an announcement, McPhillips comes to the consultant relations position from the Transition Management team at Northern Trust Global Investments (NTGI), the asset management arm of Northern Trust. He is based in Chicago and reports to Jon Dunham, Director of North America Asset Servicing Sales.

McPhillips began his career at Northern Trust as a regional manager for the Investment Management Liaison Group, where he helped investment management firms resolve domestic and international trade issues and was responsible for daily cash management of multiple currencies for international portfolios, among other issues. Prior to Northern Trust, McPhillips held analyst, relationship manager and client service positions at Mellon Financial Corporation and Bank of Ireland Securities Services.

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He holds a Bachelor of Commerce degree from University College Dublin.

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