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CONCORD HOLDING CORP. INTRODUCES THE BEA SHORT DURATION PORTFOLIO MUTUAL FUND FOR INSTITUTIONAL INVESTORS

 NEW YORK, Jan. 12 /PRNewswire/ -- The BEA Short Duration Portfolio, a new fixed income portfolio of The Infinity Mutual Funds, Inc., has been introduced by the Concord Holding Corporation for institutional investors.
 "Concord is very excited about adding this innovative, short duration fund to its institutional product lineup," said William B. Blundin, president of Concord Holding Corporation, the portfolio's administrator. "It is the first short duration fund designed specifically for the institutional market and we look forward to offering it to bank trust departments, corporate treasurers, pension plans, foundations and endowments who are seeking a high level of income consistent with preservation of capital."
 Concord Financial Group, Inc., a subsidiary of Concord Holding Corporation, is the distributor and sponsor of the new portfolio. The investment adviser is BEA Associates, a subsidiary of Credit Suisse Capital Corporation, which manages $19 billion in assets for pension and profit-sharing plans, institutions and individuals.
 The BEA Short Duration Portfolio is structured to provide a higher yield than a money market fund while minimizing price fluctuations. The average dollar-weighted credit rating of the portfolio's securities will be at least A-.
 Under normal market conditions, the duration of the fund will be approximately one year but will not exceed 1-1/2 years. The net asset value of a portfolio with a one-year duration will fluctuate approximately 1 percent in value with every 1 percent movement in interest rates.
 Duration is a more precise definition than maturity in assessing the price movement associated with changes in interest rates. Duration measures a security's maturity in terms of the average time required to receive the present value of all interest and principal payments while maturity measures only the time until final payment is due.
 For example, a 10-year zero coupon bond has a maturity and duration of 10 years since all interest and the principal are received at the end. However, while a 10-year coupon bond matures in 10 years, its duration is less because regular interest payments shorten the average time it takes to receive the present value of all interest and principal.
 The BEA Short Duration Portfolio began operations with its new investment objective and management policies on Dec. 10, 1992, with total assets of $148 million. Prior to that time the portfolio operated as a money market fund under the name Pegasus Prime Portfolio of The Infinity Mutual Funds, Inc.
 Concord Holding Corp., one of the largest administrators and distributors of proprietary mutual funds, created The Infinity Mutual Funds as a series fund for brokerage firms, investment advisers and banks that want to offer proprietary portfolios on a cost-efficient basis.
 -0- 1/12/93
 /CONTACT: Laura Berger or Stan Appenzeller of Arlen Financial Communications, 212-966-5100, for BEA Short Duration Portfolio/


CO: BEA Short Duration Portfolio ST: New York IN: FIN SU: PDT

WB-SH -- NY067 -- 3932 01/12/93 10:36 EST
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Date:Jan 12, 1993
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