WASHINGTON - Two of Trust for Credit Unions' portfolios have new names. TCU Government Securities Portfolio is now TCU Ultra-Short Duration Government Portfolio, and TCU Mortgage Securities Portfolio is now TCU Short Duration Portfolio. The name changes are in response to a recently revised SEC rule stating that mutual funds with a name suggesting that it focuses on a particular type of investment must invest at least 80% of its assets in accordance with the mutual fund name, TCU said. Previously, the minimum investment requirement was 65%. "It is in the shareholders' best interest to give the portfolio managers the flexibility to manage to the best of their ability. The investment objectives, target benchmarks, and advisor remain the same," said Charles (Chip) Filson, TCU president. The Ultra-Short Duration Government Portfolio invests primarily in securities issued by the U.S. government and its agencies and is benchmarked to the Six-Month U.S. Treasury Bill Index and the One Year Treasury Note Index. The Short Duration Portfolio invests a sustained portion of its assets in mortgage-related securities and is benchmarked against the Two-Year Treasury Index. Founded in 1987 by a group of credit unions, TCU is the largest family of mutual funds designed exclusively for credit unions, according to the company. The Money Market Portfolio, Ultra-Short Duration Government Portfolio, and Short Duration Portfolio have combined assets of more than $2.9 billion. Callahan Financial Services, Inc., a wholly owned subsidiary of Callahan Associates, and Goldman, Sachs and Co. serve as co-distributors of the portfolios.

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