BB&T Tax-Free Bond Fund named a 'Best Individual Fund' for 2010 by Lipper Inc.

RALEIGH, N.C., March 26 /PRNewswire-FirstCall/ -- The BB&T Virginia Intermediate Tax-Free Fund's I Shares (BVATX) was named a 2010 "Best Individual Fund" in its category by Lipper Inc. The fund was recognized for delivering consistent risk-adjusted performance during a ceremony hosted by Lipper on Wednesday in New York City.

The awards were presented for three- and five-year performance for the period ended Dec. 31. The BB&T Virginia Intermediate Tax-Free Fund earned awards for three- and five-year performance among 110 and 107 funds, respectively, in Lipper's "Other States Intermediate Muni Debt" category.

The fund is managed by Bob Millikan, CFA, director of Fixed Income for BB&T Asset Management, and seeks current income exempt from federal and Virginia income taxes, consistent with preservation of capital. Millikan also manages five additional state-specific tax-free funds for the firm.

"The tenants of the Virginia Intermediate Tax-Free Fund are high quality and disciplined investing with a total-return approach in mind," he said. "With this fund, we're striving for superior returns over a longer time period. We're investing for the long run, not the home run."

Millikan and his team have more than six decades combined of investment management experience and have managed the BB&T Virginia Intermediate Tax-Free Fund since its inception in 1999.

The Lipper Fund Awards go to mutual funds in 21 countries in Asia, Europe, the Middle East and North Africa, and the Americas. Lipper designates award-winning funds in most individual classifications for the three-, five- and 10-year periods.

The Lipper Fund Awards program also spotlights fund families with high average scores for all funds within a particular asset class, or overall. Past performance is not indicative of future results and high ratings do not guarantee favorable performance.

Raleigh, N.C.-based BB&T Asset Management, a wholly owned subsidiary of Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT), manages more than $17 billion in discretionary assets as of Dec. 31. The firm manages assets for institutions, foundations and high-net-worth individuals, serves as investment adviser for the BB&T Funds, and is paid a fee for its services. The BB&T funds are distributed by BB&T AM Distributors Inc., which is not affiliated with BB&T Corp. principal subsidiary Branch Banking and Trust Company or its affiliates.

The BB&T Funds offer 23 mutual funds covering a broad spectrum of equity and fixed-income styles, including value and growth stock funds targeting the large-cap, mid-cap and small-cap sectors, and bond funds focusing on the government, corporate and municipal markets. Two money market funds also are included in the lineup. Assets under management exceeded $4.5 billion as of Dec. 31.

An investment in a money market fund is neither insured nor guaranteed by the FDIC or any other government agency. Although the fund seeks to preserve the net asset value of $1 per share, it is possible to lose money by investing in the fund.

Mutual fund investing involves risk, including the possible loss of principal. Tax-free municipal bond funds may be subject to certain state and local taxes and, depending on an investor's tax status, to the federal alternative minimum tax.

The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards of Excellence recognize the world's top funds, fund management firms, sell-side firms, research analysts, and investor relations teams. For more information, please contact [email protected] or visit excellence.thomsonreuters.com.

Consider the investment objectives, risks, charges and expenses of the BB&T Funds carefully before investing. A prospectus with this and other information may be obtained at 1-800-228-1872 or www.bbtfunds.com. Read the prospectus carefully.

With $165.8 billion in assets at Dec. 31, BB&T Corp. is the nation's 10th largest financial holding company. Founded in 1872, it operates more than 1,800 financial centers in 12 states and Washington, D.C. More information about the company is available at www.BBT.com.

Not a deposit -- Not FDIC insured -- May lose value -- Not guaranteed by the bank -- Not insured by any government agency

SOURCE BB&T Corporation

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED