DALLAS--(BUSINESS WIRE)--FirstSouthwest Asset Management, LLC (FSAM), a Hilltop Holdings Inc. company (NYSE: HTH), announced today that assets under management (AUM) have topped $10 billion for the first time, reaching nearly $12 billion as of January 31, 2017, a record-setting aggregate for the company.
“This is a new milestone in the history of FSAM,” said FirstSouthwest Asset Management President David Medanich. “We strive to provide top-notch service and maximize investment earnings while preserving the capital of our public-sector clients, and $12 billion in AUM is a clear indicator of our success. This milestone is, hopefully, one of many in the years to come as we target new clients and grow the assets of existing clients.”
FSAM has provided investment management and post issuance compliance services to public agency and governmental issuers since 1987. The company’s AUM is made up of operating funds and bond proceeds from 43 public sector clients in Texas, Florida, Oklahoma and Arizona. Although the figures are subject to seasonality and historically decline following the first quarter of the year, the total AUM is in line with the steady growth of the company since its launch.
About FirstSouthwest Asset Management, LLC
FirstSouthwest Asset Management, LLC (FSAM) is a registered investment advisory firm located in Dallas, Texas. The firm is part of the Hilltop Holdings family of companies (NYSE: HTH) and works alongside Hilltop Securities Inc.’s municipal advisory division, FirstSouthwest. The firm provides a wide range of investment management and arbitrage rebate compliance services to local governments across the nation and administers two investment pools for local Texas governments, TexSTAR and LOGIC. FSAM’s affiliates include Hilltop Securities Inc., Hilltop Securities Independent Network Inc., PlainsCapital Bank, PrimeLending and National Lloyds Corporation. Learn more at HilltopSecurities.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated in such statements. Forward-looking statements speak only as of the date they are made and, except as required by law, we do not assume any duty to update forward-looking statements. Such forward-looking statements include, but are not limited to, statements concerning such things as our other plans, objectives, strategies, expectations and intentions and other statements that are not statements of historical fact, and may be identified by words such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “might,” “plan,” “probable,” “projects,” “seeks,” “should,” “strive,” “target,” “view” or “would” or the negative of these words and phrases or similar words or phrases. For a discussion of certain factors that could cause our actual results to differ materially from those described in the forward-looking statements, please see the risk factors discussed in Hilltop Holdings’ most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other reports that are filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement.