rockland trust

rockland trust

Hanover, Rockland Trust launched the first of two mutual funds. Trus seek other sources of income beyond their traditional offerings, the Patriot Ledger reports.Ledger reports that funds have already attracted considerable interest. Large-cap fund has about $ 55 million in assets and funds MidCap has approximately $ 25 million, says Ledger.David Smith, Rockland Trust’s chief investment officer, said the bank launched the funds last month as a way to generate revenue outside of its traditional market.The goal is going to be to deliver the strong investme management services, that we deliver locally to clients, outside of Rockland Trust’s geographic footprint,” Smith said.There’s a significant market outside the Rockland Trust geographic footprint.”The mutual funds also will help the bank become less reliant on interest-rate revenue from loans, Smith said.