RE Advisors, the investment manager for Homestead Funds, has changed its name to Homestead Advisors to more closely align itself with the fund, Homestead Funds announced.
Based in Arlington, Va., Homestead Funds provides investment services to electric cooperative employees and financial advisors across the U.S. Homestead Advisors manages $7.9 billion in assets held in separate accounts, pension plans and mutual funds.
The National Rural Electric Cooperative Association (NRECA) founded Homestead Funds more than 30 years ago to enable members of electric co-ops to manage their money through mutual funds and savings accounts. Today, NRECA represents the interests of nearly 900 electric cooperatives in 48 states. Independent electric cooperatives are not-for-profit utilities and are owned by their members. Homestead Advisors returns its profits to the NRECA.
“The name change to Homestead Advisors represents alignment of our goals at all levels of our organization,” Mark Santero, CEO of Homestead Funds, said in a statement. “This name change is a natural progression in our dedication to Main Street investing.”
More than 400 co-ops use Homestead Funds, including those cooperatives that have chosen Homestead Funds as the funding vehicle for their deferred compensation and retiree medical plans.