With regard to the article titled "Confederation Life investors hear bad news: Full reimbursement of GIC losses called not likely," written by Fred Williams and found on page 40 of the Sept. 4 issue, there is an error in the article referring to Coors having filed a lawsuit against the Fidelity Management Trust Co.
Adolph Coors Co., including its subsidiary, Coors Brewing Co., has not filed suit against Fidelity Management Trust Co. A suit has been filed by a participant in the Coors Savings and Investment plan that Fidelity manages.
John R. Flanders
Coors Brewing Co.
We note that Record Treasury Management Ltd. was not included in the list of currency overlay managers in the June 26 issue as well as the list of derivatives users in the Aug. 7 issue.
Record Treasury Management has been a currency overlay manager since 1983.
In total overall, the firm has more than $3.5 billion in assets under management or advice.
Of this amount, $50 million was in discretionary U.S. tax-exempt assets as of March 31.
Record Treasury Management is known as the first currency overlay manager to used dynamic option replication techniques to protect its clients' assets from adverse currency movements.
We use over-the-counter currency forwards and swaps in our currency overlay strategies.
Record's head office is in Windsor, England.
It also has marketing offices in London, Boston and New York.
We have been registered with the SEC since 1994.
Neil P. Record is chief investment officer; Leslie F. Hill is the institutional client contact.
Record Treasury Management Ltd.