In reference to your May 15 money manager directory, I would like to clarify that while BNP/N&B does offer global/international fixed-income management, it is not our sole investment services as seems to be indicated in our description on page 54.
We also manage international/global equity assets. In addition, through our parent company, Neuberger & Berman, we offer a variety of U.S. fixed-income and equity management services.
I recently read your survey of money managers in your May 15 issue. I found this survey most informative but I also noted that our firm was not included in the survey.
Lombard Odier et Cie (LOC) has $30 billion under management worldwide.
Lombard Odier International Portfolio Management Limited (LOIPM) was started in 1978 as the SEC registered institutional arm of Lombard Odier. LOIPM has $10 billion under management ($6 billion fixed income, $4 billion equities).
We have an experienced, stable management team in London, which has been together for 10 years. We have 52 investment professionals (multinational, multilingual), who make over 950 company visits worldwide annually.
Fridolin E. Fackelmayer
Executive Vice President
Lombard Odier Inc.
Crestone Capital Management Inc. was not included in the May 15 directory of money managers.
Crestone Capital Management Inc., is a small-cap opportunistic value manager. In July of 1994, we became an independent subsidiary of Norwest Bank Minnesota N.A. Crestone's employees own 56% of our company stock.
Crestone's focus is on undervalued, overlooked domestic companies with strong financial characteristics. Total assets under management are approximately $240 million.
Senior Vice Presidentand Marketing Contact
Crestone Capital Management Inc.
Margaret Price's June 26, page 18 article "Growth in assets slows to 19.4%" didn't include FX Concepts Inc. in its list of currency overlay managers on page 41. Apparently your questionnaire was inadvertently sent to our old address. FX Concepts has been a currency manager since 1987.
FX Concepts had $4.069 billion in total discretionary asset under management on March 31, of which $1.855 billion are discretionary U.S. tax-exempt assets.
FX Concepts' system for analysis of foreign exchange is based on an inter-related series of computer-based models designed to emulate a quantitative and fundamental approach and predict the beginning and end of foreign currency trends.
The firm has its head office in New York, and an additional trading office in Rochester, N.Y. It has marketing offices in Washington, Paris and Dubai.
John R. Taylor Jr. is the founder and chief investment officer of the firm; Seth Rosenberg is the client contact.
Louise P. Casanova
While we have in prior years been included, Lexington Management Corp. was somehow omitted from the June 26 special report on international and global managers. We are an international/global manager with some $1 billion managed in those markets. Tax-exempt international/global assets total some $300 million. Assets under management in all categories total $3.5 billion. We offer a family of mutual funds as well as separate account management.
James H. O'Leary
Lexington Capital Management Corp.
Saddle Brook, N.J.
BSS Asset Management was not included in your June 26 survey of international and global managers.
BSS Asset Management has $4.687 billion under management, of which $861 million is non-U.S. pension assets and $76 million is U.S. institutional discretionary tax-exempt assets. The majority is invested globally. The global assets were committed most heavily to the United States, Canada, the United Kingdom and Japan as of March 31.
The firm employs a top-down approach.
The firm uses a team approach, and all research analysts and portfolio managers are located in Geneva, Switzerland. The firm, a subsidiary of Banque Scandinave en Suisse, has been registered with the SEC since 1993.
Arnold Meilland is chief investment officer; Ulf Noflet is client contact.
BSS Asset Management
White Plains, N.Y.