New York, NY, March 08, 2019 (GLOBE NEWSWIRE) -- Arthur M. Scutro, Jr., who has served as a Trustee for the entire First Investors Funds complex since 2006 and its Chairman since January 2013, is a finalist in the “Small Board Trustee of the Year” category in the Mutual Fund Industry & ETF Awards 2019. This year marks the 26th anniversary of these awards which serve as the highest honor that fund management, professionals and firms can achieve for their performance and contributions to the industry.
The Small Board Trustee of the Year category recognizes board directors that oversee less than $20 billion in assets for outstanding accomplishments working with their own board or with the mutual fund industry in general.
“Mr. Scutro has always put the interests of fund shareholders first, while at the same time fostering an environment of collegiality and cooperation among Board members and management to achieve common goals,” said Blake Moore, President, North American Asset Management at Foresters Financial.
As the Chairman of the Board, Mr. Scutro oversaw all fund actions within the First Investors Funds platform during 2018, a year which was truly transformative for the fund family. Embarking on a holistic fund optimization initiative labeled “FIMCO 2.0”*, the fund complex underwent a series of sweeping changes designed to better position the First Investors Funds as more focused and competitive offerings for shareholders.
The Mutual Fund Industry & ETF Awards 2019 will take place on April 11, 2019, at Cipriani 42nd Street, New York, NY.
*FIMCO is the acronym for Foresters Investment Management Company, Inc., subsidiary of Foresters Financial Holding Company, Inc.
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About Foresters Financial
Since 1874, Foresters Financial has been providing socially responsible financial services to individuals and families. Today, we still embrace our purpose—we enrich family and community well-being. We continue to innovate products and services that go beyond financial planning to provide benefits that empower our clients and members.1 We help them help make a positive difference in the world. Giving back is not a new concept for us. It’s what defines us. Because helping is who we are.
Headquartered in Canada, with offices in the US and UK, Foresters Financial is a not-for-profit financial services organization2 offering insurance products, annuities and investments with over three million members and clients. We have assets of $17.7 billion and total funds under management of $45.1 billion (all figures in Canadian dollars as of December 31, 2017). Foresters Financial includes The Independent Order of Foresters, the oldest (non-denominational) fraternal benefit society, and also one of the strongest. The Independent Order of Foresters has received an “A” (Excellent) rating from A.M. Best for 18 straight years.3 In 2017, we contributed more than CAD $9.7 million dollars to our members’ communities for grants, family activities, scholarships, and emergency assistance.
¹ Descriptions of member benefits that you may receive assume that you are a Foresters Financial member. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or canceled without notice.
² The Independent Order of Foresters is a fraternal benefit society exempt from federal tax in the United States under Internal Revenue Code s. 501(c)(8).
³ The A.M. Best rating assigned on August 2, 2018, reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of any non-IOF issued products. An “A” (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. See ambest.com for our latest rating.
Foresters Financial™ and Foresters™ are the trade names and trademarks of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9 and its subsidiaries, including Foresters Financial Services, Inc. Foresters Financial Services, Inc. is a member of the Securities Investor Protection Corporation (SIPC).
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