NU Online News Service, June 24, 2003, 4:36 p.m. EDT – Lockwood Advisors Inc., Malvern, Pa., is now offering registered investment advisors access to three registered, no-load hedge funds managed by Ivy Asset Management Corp and Oppenheimer/Tremont.
Lockwood and Ivy are both units of The Bank of New York Company Inc., New York.
Access to no-load hedge funds is useful to RIAs, because RIAs cannot sell funds that have loads, Lockwood says.
Advisors must be able to show that any hedge fund is suitable for a client who uses the fund, but the minimum net-worth requirements are lower for clients who invest in registered hedge funds, Lockwood says.
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