Rockland Trust in Hanover has launched its first two mutual funds .The Trust seeks alternative revenue sources beyond its traditional offerings, the Patriot Ledger reports.

Rockland Trust is also pleased to announce the establishment of Bright Rock Capital Management, LLC (Bright Rock) a wholly owned subsidiary dedicated to institutional investment management. Beginning today, Bright Rock’s institutional investment management products and services are available to the global institutional market.

Rockland Trust and Bright Rock Capital Management combined assets under management currently exceed $1.3 billion, and include investment management products across the United States equity and fixed income markets. In launching Bright Rock, Rockland Trust has affirmed its focus on providing institutional investors with access to best of breed products managed by the firm. Supported by the $4.5 billion Rockland Trust infrastructure and resources, Bright Rock’s investment management team averages 25 years of experience and maintains a strong and growing track record in several investment styles, including Mid Cap Growth, Small Cap Growth, and Quality Large Cap.

“Consistent with the Rockland Trust commitment to excellence on behalf of our clients, we have established Bright Rock to ensure that our clients receive the full focus and attention of the organization, specific to their areas of need. In Bright Rock, we see an opportunity to provide institutional investors with direct access to industry leading and highly focused investment management capabilities across the US equity markets and beyond,” noted David Smith, CFA, the firm’s Chief Investment Officer.

“With a team of dedicated investment professionals, deep infrastructure, and a commitment to service our customers, we believe that Bright Rock has many advantages in today’s marketplace. Our dedication to deep, fundamental research and analysis is core to our philosophy, and is the essence of Bright Rock’s value proposition to the market,” noted Doug Butler, CFA, CFP and Director of Research for the firm.

Meanwhile, the Ledger reports that the funds have already attracted significant interest. The large-cap fund has about $55 million in assets, and the midcap fund has about $25 million, the Ledger notes.

Rockland Trust in Hanover has launched its first two mutual funds .The Trus seeks alternative revenue sources beyond its traditional offerings, the Patriot Ledger reports.

The Ledger reports that the funds have already attracted significant interest. The large-cap fund has about $55 million in assets, and the midcap fund has about $25 million, the Ledger notes.

David Smith, Rockland Trust’s chief investment officer, said the bank launched the funds last month as a way to generate revenue outside of its traditional market.

“The goal is going to be to deliver the strong investment management services, that we deliver locally to clients, outside of Rockland Trust’s geographic footprint,” Smith said.

“There’s a significant market outside the Rockland Trust geographic footprint.”

The mutual funds also will help the bank become less reliant on interest-rate revenue from loans, Smith said.