Avenue Announces Strategic Partnership.TORONTO -- Avenue Financial Corporation ('Avenue') (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AFC (1) (Application Foundation Classes) A class library from Microsoft that provides an application framework and graphics, graphical user interface (GUI) and multimedia routines for Java programmers. ) is pleased to announce it has entered into a strategic relationship with Barrington Wealth Partners ('Barrington") whereby Avenue will create unique Alternative Asset Structured Products for distribution to Barrington's high net worth clients through Avenue's affiliate Avenue Global Asset Management Inc. ('AGAM'). Barrington is a national firm specializing in marketing life insurance to high net-worth individuals and business owners. It has grown to 14 member firms across Canada with more than $850 million in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. and is expanding rapidly. Commented Glenn McHugh, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Barrington,' the goal is to grow our business over the next two years to $2 billion in assets under administration. Avenue provides us with a unique tax advantaged platform as well as the flexibility of creating products unique to our high-end investor base. We believe our association with AFC will help facilitate our growth. Colin Berrie, President of Avenue added,' We look forward to developing unique alternative asset products especially designed to service the high net worth clients of Barrington. In addition, Avenue will make available through AGAM AGAM Ambiente Gas Acqua Monza SpA (Italian) its structured share platform for current products.' About Avenue Financial Corporation Avenue Financial Corporation is a TSX Venture listed company which designs and develops innovative investment products for high net worth investors and select institutions. Through its international affiliates Avenue Financial Corporation plans to be a global administrator of both segregated and pooled managed fund products and services. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy of this release. Avenue Financial Corporation (TSX VENTURE:AFC) |
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