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CONCORD FINANCIAL GROUP INTRODUCES NEW OFFSHORE MUTUAL FUND STRUCTURE FOR FOREIGN INSTITUTIONS WANTING TO ENTER U.S. MARKET

 CONCORD FINANCIAL GROUP INTRODUCES NEW OFFSHORE MUTUAL FUND
 STRUCTURE FOR FOREIGN INSTITUTIONS WANTING TO ENTER U.S. MARKET
 NEW YORK, April 29 /PRNewswire/ -- Richard E. Stierwalt, chief executive officer of Concord Financial Group, Inc., today announced a new mutual fund concept that will permit offshore managed investments to combine assets with United States mutual funds to create a more cost- effective structure.
 "This innovative offshore-onshore structure, which allows foreign institutions to enter the U.S. mutual fund marketplace, will be financially advantageous to both foreign and U.S. investors," said Stierwalt. "Because their assets are pooled, both will enjoy the economic benefits of a larger asset base. Using our existing structure, we anticipate that rapid entry into the U.S. market would be possible."
 The new offshore-onshore mutual fund structure was presented to foreign institutions by Stierwalt during a recent visit to several European capitals.
 "Several major institutions were anxious to hear our presentation because they want to offer their clients the benefits of our structure," said Stierwalt.
 "This demonstrates again Concord's commitment to product development and the advantages of our existing vehicle -- The Infinity Mutual Funds, Inc. -- which provides institutions with an efficient and cost-effective way to create their own proprietary mutual funds with a portfolio tailored to their special investment needs," said Stierwalt.
 The Infinity Mutual Funds, Inc., was introduced in 1990 by Concord Financial Group as an open-end series fund. Infinity allows individual portfolios to be established within its umbrella structure with their own prospectuses, portfolio names and investment objectives to reflect the needs of participating companies. Infinity is designed so each participant can act as investment adviser for its private label portfolio. Recently, Concord received exemptive relief from the Securities and Exchange Commission for unlimited classes of shares for all current and future Infinity portfolios.
 Concord Financial Group, Inc., recognized as an innovator in the financial industry, works as a partner with financial institutions around the country to sponsor, distribute and administer over 40 proprietary mutual funds where banks, brokerage organizations, investment advisory firms and insurance companies serve as investment advisers. Concord currently has over $17 billion in assets under administration.
 -0- 4/29/92
 /CONTACT: Laura Berger or Stan Appenzeller of Arlen Financial Communications, 212-966-5100, for Concord Financial Group/ CO: Concord Financial Group, Inc. ST: New York IN: FIN SU: PDT


PS -- NY003 -- 4186 04/29/92 09:00 EDT
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Publication:PR Newswire
Date:Apr 29, 1992
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