The Steadman Group of Funds, in an effort to shake its reputation for miserable performance and ungainly expenses, has changed its name.

The three no-load Steadman funds with about $6 million under management, which have struggled for survival for much of their lives, were renamed the Ameritor funds last month. The funds' advisor, the Steadman Security Corp., has also been renamed Ameritor Financial Corp. Further, early in 1999, for the first time in six years, shares of one of the funds, the Security Trust fund, will be available for sale to investors, said Max Katcher, the fund's portfolio manager and president of the funds' advisory firm. Katcher said the firm hopes to attract assets based on Security Trust's recent strong performance.

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