Principal Preservation Portfolios Changes Name, Adds Two Funds

Principal Preservation Portfolios of Milwaukee, a fund family with $1.2 billion in assets under management, announced today that it has changed its name to the North Track Funds.

The fund family changed its name because of a change in the nature of its funds, according to Robert Tuszynski, president and CEO of the company. Originally, the company created and marketed conservative funds that focused on preserving investors’ principal, said Tuszynski. Now the company has a “pro-active portfolio development strategy”, which, combined with the increasing popularity of its more broadly based equity funds, is the reason for the change, he said.

“Why North Track?” said Tuszynski in a statement. “Being the polar opposite of south, 'north' has always been a direction investors prefer their portfolios head. And with an emphasis on creating a diversified portfolio core made up of funds that follow, or 'track' specific economic sectors, the name North Track came together.”

In addition, the company announced today the launch of two unique index funds. Both funds, the Dow Jones U.S. Healthcare 100 Plus Fund and the Dow Jones U.S. Financial Services 100 Plus Fund, will be based, naturally, on Dow Jones’ healthcare and financial services indexes, according to the announcement. The company filed a proxy with the Securities and Exchange Commission on March 6th, and expects them to be approved in mid-April, 2001. Once effective, North Track Funds will offer 12 index and actively managed funds, according to the announcement.

'Instead of focusing on investment styles such as growth, value, small-cap and large-cap, the North Track strategy focuses on demographics and how people spend and invest their money,” said Tuszynski. “Demographics studies tell us that among all the sectors in the U.S. economy, Health Care and Financial Services have been, and will continue to be, among the most likely sectors to experience growth.'

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