Free new service puts limited partnership market data online.CHICAGO--(BUSINESS WIRE)--Feb. 7, 1996--This week Chicago Partnership Board, Inc. (CPBoard) launched a listing service and other market information for Limited Partnership (LP) investors on the World Wide Web at http://www.cpboard.com. The company's home page is a free service which launched on the Internet on February 5, 1996. The service includes a database of market information for over 1,000 LPs which may be sold or bought at auction through CPBoard. "We're very pleased to be giving LP investors access to current market information, like our listing of limited partnership units up for sale at a daily auction," said Jim Frith frith n. Scots A firth. [Alteration of firth.] Frith woods or wooded country collectively. See also forest. , president of CPBoard. CPBoard's home page also features the only online directory of limited partnerships, and key financial performance data downloaded daily. If investors see something they like, it's possible to get free financial statements (10Ks, 10Qs, 8Ks, etc.) with the click of a button. Frith added: "The CPBoard home page does more than just provide investment information. This service radically changes the way investors can buy or sell limited partnerships, since CPBoard's market data has never before been this widely and easily accessible." CPBoard auctions LPs and real estate investment trusts (REITs) which are not listed on stock exchanges, thus mitigating their illiquidity. Based on the rising transaction volume recorded by CPBoard, limited partners have increasingly sought liquidity as the investments age. About 2,600 publicly-registered LPs were originally marketed as self-terminating investments but have not yet finished winding down, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Disclosure, Inc.'s database of SEC filings. CPBoard is the most active facilitator of transactions of LPs, according to data published by Dow Jones's Investment Advisor 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 magazine. About 10 million U.S. investors own limited partnerships, says a 1991 study by the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. , Inc. In addition to trading public LPs and REITs, CPBoard also provides auctioneering services for private placement LPs, closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. LPs, and limited liability companies. Only pre-cleared, accredited investors Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". may see offers or bid on non-public securities. The information above should not be construed as an offer or recommendation to buy, sell, or exchange securities. LPs are not suitable for all investors and entail entail, in law, restriction of inheritance to a limited class of descendants for at least several generations. The object of entail is to preserve large estates in land from the disintegration that is caused by equal inheritance by all the heirs and by the ordinary substantial risk. No guarantee of profit or trade execution is given or implied. Before selling or investing, investors should consult their investment advisor. For more information, contact CPBoard at (800) C P BOARD or 800/272-6273. NOTE TO EDITORS: There is a double forward slash The forward slash, or slash, character (/) is the divide symbol in programming and on calculator keyboards. For example, 10 / 7 means 10 divided by 7. The slash is also often used in command line syntax to indicate a switch. For example, in the DOS Xcopy statement xcopy *. in the World Wide Web Address in the first paragraph above, between "http:" and "www.cpboard.com." There is also an "at" symbol in the E-mail address See Internet address. e-mail address - electronic mail address below, between "perez" and "cpb.mhs.compuserve.com." These symbols may not appear properly in some systems. CONTACT: Chicago Partnership Board Inc., Chicago Joseph M. Perez, 800/272-6273 or 312/332-4100 perez@cpb.mhs.compuserve.com |
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