April 23, 1998
Executives of the newly formed Monument Funds Group Inc. said yesterday that they expect the Baltimore-Washington region "outperform" most other areas of the country in the next three to five years.
"The only constraint for this region is the number of people who are available to work," said Alexander C. Cheung, senior portfolio manager at the Laurel mutual fund company. Monument opened in January and it runs two mutual funds that invest in companies in the Baltimore, Washington and Virginia area.
Monument Washington Regional Growth Fund invests in mid-size and large companies, while Monument Washington Regional Aggressive Growth Fund targets small new companies.
About $1 million has been invested in the funds.
David A. Kugler, Monument's president, is optimistic they will attract more money because of the region's strong companies.
Monument Washington Regional Aggressive returned 23.10 percent in the first quarter, and was named by Barron's as the top small-cap stock fund.
"We were honestly very surprised by that," Kugler said.
Pub Date: 4/23/98
