Three Tributary funds may invest 20% of assets in ADRs, up from 10%

By Toni Weeks

San Diego, Feb. 23 - The board of directors of Tributary Funds approved at a meeting on Feb. 21 an increase in the threshold of American Depositary Receipts that may be held in the Tributary Core Equity Fund, the Tributary Small Company Fund and the Tributary Growth Opportunities Fund.

Each fund may now invest up to 20% of its assets in foreign securities, either directly or through the purchase of sponsored and unsponsored ADRs.

Previously, each fund was allowed to invest 10% of its assets in ADRs.

Omaha-based Tributary Capital Management, LLC, a subsidiary of First National Bank of Omaha, serves as investment adviser to the funds.

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