New York, NY, April 28, 2010 --(PR.com
)-- At the Lipper Awards Ceremony on March 24, 2010, two First Investors funds received honors in three categories. Awards were based upon Consistent Return.1
In the category of Single-State Insured Municipal Debt Funds over Three Years, the First Investors North Carolina Tax Exempt Fund (FMTNX) took top honors out of 57 funds.
The First Investors Minnesota Tax Exempt Fund (FIMNX) won two Lipper Fund Awards: Single-State Insured Municipal Debt Fund over Five Years, where it bested 56 other funds, and Single-State Insured Municipal Debt Fund over Ten Years, where it beat out 55 other funds.
Clark D. Wagner of First Investors Management Company, Inc. (“FIMCO”) manages both of the Lipper Award-winning Funds. In addition to serving as Portfolio Manager of the Funds, he is also Director of Fixed Income at FIMCO. Mr. Wagner joined First Investors in 1991.
Robert M. Flanagan, President of First Investors Corporation, said, “We are happy to congratulate Clark Wagner on his achievements. He is an asset to our Company as well as a leader in his field.”
“However,” Mr. Flanagan continued, “current and prospective clients should not invest in these funds, or any funds, based on their award-winning status. Past performance is no guarantee of future results, which is why we urge clients to choose funds that fit their individual needs, as opposed to selecting a fund for its performance record.”
1Past performance is no guarantee of future results. The Lipper Fund Awards 2010 winners were selected using the Lipper Leader rating for Consistent Returns for funds with at least 36 months of performance history as of the end of the evaluation year. Awards are presented to the Lipper Leader with the highest Consistent Return within each eligible classification over 3, 5 or 10 years. Lipper ratings for Consistent Return reflect funds' historical returns, adjusted for volatility, relative to peers. The ratings are subject to change every month, and are based on an equal-weighted average of percentile ranks for the Consistent Return metrics over 3-, 5-, and 10-year periods (if applicable). A high Lipper rating does not necessarily imply that a fund had the best total performance or that the fund achieved positive results for that period.
For more complete information on any First Investors fund, you may obtain a free prospectus by calling (800) 423-4026; writing to First Investors Corporation, 110 Wall Street, New York, NY 10005; or visiting the website at www.firstinvestors.com. You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus contains this and other information about the fund, and should be read carefully before you invest or send money. An investment in a fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.