Amerindo Announces Expansion of Its Fund Family; Internet B2B Fund, Health & Biotechnology Fund Filings Made; Late May Availability Expected.Business Editors NEW YORK--(BUSINESS WIRE)--March 13, 2000 Plans To Launch Amerindo Technology Fund II Upon Closing Its Flagship Fund When Assets Reach $1.5 Billion Alberto Vilar Alberto Vilar (b. 4 October 1940) is a Cuban-American investor and philanthropist, particularly known as a patron of opera. Vilar earned an economics degree from Washington and Jefferson College, an elite liberal arts college in Washington, PA. Has Interest In Adding Internet Capital Group, LookSmart LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . and OnDisplay Inc. To Amerindo's Portfolios In response to increasing market demand, Amerindo Investment Advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and Inc. announced that it is launching two new mutual funds; the Amerindo Internet B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business (Business-to-Business) Fund and the Amerindo Health & Biotechnology Fund. Amerindo today filed registrations with the SEC for the two new funds, which should be available to investors by the end of May 2000. Alberto Vilar, Amerindo's President and co-portfolio manager, also announced today that the Company has filed a registration statement for the Amerindo Technology Fund II, which should be available when the Firm's flagship fund, The Amerindo Technology Fund, closes to new investors upon reaching a $1.5 billion cap in assets. Additionally, Mr. Vilar has announced his interest in the following Internet-related names: Internet Capital Group, LookSmart LTD. and OnDisplay. Both the Amerindo Internet B2B and the Health & Biotechnology funds will be based on Amerindo's unique, concentrated investment style in which the company takes large initial positions in a limited number of potential core stocks. "We believe that the Internet has the potential to create at least $3 trillion in new shareholder wealth over the next five years, and that 70% of this wealth will come from the business-to-business sector," said Mr. Vilar. "Clearly, the Internet is quickly becoming businesses' preferred vehicle for communications and commerce and will continue to expand rapidly as businesses move to adopt Internet strategies on a global scale. We will be squarely positioned to leverage the phenomenal growth that is occurring in this once-in-a-lifetime opportunity, through the Amerindo Internet B2B Fund. "Our investment strategy will focus on three primary areas that are driving the growth of the Internet: infrastructure software, telecommunication companies required to support B2B commerce and the continued build-out of the Internet, and pure e-commerce players," Mr. Vilar added. The Amerindo Health & Biotechnology fund will invest in companies in two sectors: biotechnology and Internet healthcare. "Amerindo also has an enviable en·vi·a·ble adj. So desirable as to arouse envy: "the enviable English quality of being able to be mute without unrest" Henry James. reputation in the healthcare and biotechnology sectors, having literally been the first institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. in many of the notable early winners such as Genentech, Amgen, Chiron and Centocor." said Mr. Vilar. "While our recent investment focus has been concentrated primarily in the Internet, we have long championed the promise of biotechnology to transform the delivery of human therapeutics and diagnostics. "Lab breakthroughs plus an aging global population will continue to foster opportunities in health sciences and biotechnology. The genomics sector has helped to catapult catapult (kăt`əpŭlt'), mechanism used to throw missiles in ancient and medieval warfare. At first, catapults were specifically designed to shoot spears or other missiles at a low trajectory (see bow and arrow). biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. stocks to new highs but we still believe that many of the top names have considerable upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar ." Commenting on the current state of the market, Mr. Vilar said that he continues to believe that 2000 will be a "transition year" for the stocks of top-tier Internet, health sciences and biotech companies. However, he is careful to point out that he still suspects that a correction, not unlike last year's, is likely to occur in this first half. "We predicted a correction for the technology sector last April, which is exactly what happened. Stocks then went onto new highs in November and December. While year 2000 already has continued strength for both the Internet and biotech sectors, we still feel that large market swings this year are inevitable. Neither sector is widely owned by large institutional investors which should cushion the downside." Mr. Vilar commented on the pending closure of the Amerindo Technology Fund and the launch of the Tech Fund II. "We expect the Fund to reach $1.5 billion this year. Once the assets get past a certain asset size, some flexibility can be lost with a concentrated style of management like ours. We also believe that Amerindo's style is uniquely tailored to exploit the extraordinary Internet opportunity that lies ahead. The Tech Fund II is really a natural extension of our long proven record in emerging technology investing." The average annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. total return for the Amerindo Technology Fund Class D shares for the twelve months ended 12/31/99 and since inception (10/28/96) was 248.86% and 63.32% respectively. There are no cap size limitations on stocks in the Amerindo Internet B2B Fund and the Amerindo Health & Biotechnology Fund, and both are non-diversified. Similar to the Amerindo Technology Fund, the minimum investment for all of the Funds will be $2,500, and distribution will be made through three classes - A, C and D. The Funds will be available to direct retail investors Retail Investor Individual investors who buy and sell securities for their personal account, and not for another company or organization. Notes: Retail investors buy in much smaller quantities than larger institutional investors. and through fund supermarkets fund supermarket A financial institution that offers a large number of mutual funds from many different sponsors. The term is often used to refer to brokerage firms that offer customers a very large number of no-load funds. such as Schwab, Fidelity and others, as well as through brokers, independent investment advisors and financial planners Financial Planner A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. . Amerindo Investment Advisors Inc. pioneered in the early 1980s the management of emerging growth portfolios with emphasis on electronic technology and healthcare stocks. A global company with approximately $8 billion under management, Amerindo is the premier emerging growth stock manager specializing in leading-edge technology and biotechnology and is preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae in Internet-related portfolio investments. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. Past performance is no guarantee of future results. Past performance data quoted represents past performance and the investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The performance quoted herein may not be repeated. Technology stocks during this period experienced stronger gains than the market as a whole. This is a non-diversified fund and may invest a greater share of its assets in a particular issuer. There are specific risks inherent in investing in the technology and science areas, smaller capitalized companies, and foreign securities. The Fund had a heavy concentration in Yahoo and eBay Inc. during the one-year period ended 12/31/99. The information provided herein represents the opinion of the manager and is not intended to be a forecast of future events, a guarantee of future results nor investment advice. Further, there is no assurance that certain securities will remain in or out of the portfolio. Please call 1-888-TECH FUND or access their website www.amerindo.com for a prospectus containing complete information including risks, charges and expenses. Read it carefully before you invest. Amerindo Technology Fund is distributed by SEI Investments Distribution Co., Oaks, PA 19456. This press release, and prior releases, are available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide Web site at www.kcsa.com. |
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