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MANCHESTER CAPITAL PLAYS TO INDIVIDUAL STRENGTHS AND TALENTS TO ACHIEVE BALANCE AND PERFORMANCE

 MANCHESTER, Vt., Dec. 8 /PRNewswire/ -- Two veteran investment managers, Edward W. Cronin, Jr. and Nicholas L. Ihasz, have joined forces to form Manchester Capital Management, an advisory firm dedicated to achieving stable, long-term growth through a balanced, hedged approach.
 Their first offering is The Equinox Fund, a limited partnership that serves as a "Fund of Funds" by drawing upon a portfolio of highly successful investment managers and strategies. In its first nine months of operation, the Equinox Fund has posted year-to-date returns of 13.0%, outperforming all major stock market indices.
 The partnership evaluates a variety of investment opportunities, including traditional equity investments, market-neutral strategies, hedged arbitrage, and foreign markets and then seeks out and allocates capital to individual fund managers with recognized skills and achievements in the areas selected.
 "By having several managers, each employing different strategies, the fund can manage its risk exposure to individual managers or markets, while capitalizing on their success," said Mr. Cronin.
 The two partners draw upon their diverse investment experiences in devising their strategy.
 Mr. Cronin is the managing general partner. He has been a money manager since 1976. Mr. Cronin has wide experience applying modern portfolio management techniques to diverse equity accounts, and has developed several proprietary trading systems based on computer generated signals. Following graduation from Williams College in 1968, he spent several years in Asia overseeing projects for Harvard and Cornell Universities. A resident of Manchester, Mr. Cronin is active in local Vermont government and has served on the boards of three companies based in the state.
 Mr. Ihasz is consulting general partner and advises the partnership on managers. He began his career as a vice president of Bache & Company in 1968. For the next 12 years he operated as a member of The New York Stock Exchange for various member firms. In 1980 he formed his own brokerage firm, N.L. Ihasz and Co., which controlled several seats on the New York and American exchanges, and in 1981 he co-founded a private money management firm, Abelow Ihasz and Co. As managing partner he had responsibility for proprietary trading, market making, and supervising the firm's five floor brokers and four market makers. In 1989 he became managing partner of the Broad Street Fund, L.P. Mr. Ihasz and his family live in Danby, Vt.
 -0- 12/8/93
 /CONTACT: Thomas Franco or John Higgins, 212-229-2222/


CO: Manchester Capital Management ST: Vermont IN: FIN SU:

CK-PS -- NY001 -- 1606 12/08/93 08:30 EST
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Publication:PR Newswire
Date:Dec 8, 1993
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