Benchmark Advisory Services expects to hire nine to 15 emerging managers to run three pooled funds in an emerging managers trust offered to pension funds and other institutional investors, said Edward A.H. "Ted Siedle, president and sole owner of the new firm. The manager-of-managers trust will consider emerging managers with less than $2 billion, including minority- and women-owned firms, he said. He will select three to five managers for each of three domestic funds: multicap growth equities; multicap value equities; and fixed income, which will be a blend of government and corporate securities. The pooled funds could begin to receive client money next month. Capital Resource Advisors is providing the manager database from which Mr. Siedle is selecting the managers.
Mr. Siedle said his broker-dealer firm, Benchmark Financial Services, does no trading or any other business with emerging managers and wont do any business with them.