Printer Friendly

ADVANCE CAPITAL MANAGEMENT REACHES 2ND MAJOR MILESTONE IN LAST 2 MONTHS

 SOUTHFIELD, Mich., June 23 /PRNewswire/ -- Advance Capital Management, a Southfield-based financial advisory and investment firm, announced today that it has achieved its second major milestone in the last two months.
 John C. Shoemaker, the firm's president, reported that the Advance Capital I mutual funds have passed the $100 million mark in assets.
 The first milestone was reached in late April when two of its mutual funds qualified for listing in the mutual fund tables printed in daily newspapers across the country.
 Although Advance Capital is only six years old, Shoemaker said the firm's growth has been explosive. Since its inception, assets have mushroomed 50 times over and the number of clients has increased from 15 to more than 1,400.
 Shoemaker and Advance Capital's two other principal officers -- Raymond A. Rathka, vice president, and Robert J. Cappelli, treasurer and secretary -- are all former Michigan Bell financial managers. The firm has focused on providing financial advisory services to retirees and a majority of its clients are retired telephone company employees.
 In addition to its headquarters in Southfield, Advance Capital has offices in Cleveland and Columbus, Ohio; Lisle, Ill.; Clark, N.J., and St. Louis.
 The two mutual funds listed in the mutual fund tables are Advance Capital I Balanced Fund and Advance Capital I Retirement Income Fund. To qualify for listing, a mutual fund is required to have assets of at least $25 million or 1,000 shareholders. There are three other mutual funds in Advance Capital I's family of no-load funds.
 -0- 6/23/93
 /CONTACT: Robert Cappelli of Advance Capital, 313-350-8543/


CO: Advance Capital Management ST: Michigan IN: FIN SU:

DD -- DE006 -- 4851 06/23/93 08:25 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 23, 1993
Words:280
Previous Article:KEYCORP TO ACQUIRE JACKSON COUNTY FEDERAL BANK (!)
Next Article:ANDRX SUBSIDIARY RECEIVES APPROVAL FOR TWO PATENTS
Topics:


Related Articles
LIBERTY FINANCIAL FUNDS PASS $1 BILLION MARK
THE NEW ENGLAND ANNOUNCES ITS SIXTH YEAR OF INCREASED PROFITABILITY
MAKING A MINT MAY COULD BE MOVIE INDUSTRY'S BEST MONTH EVER.
TETAYON SHIPS ONE MILLION DOCSIS 2.0 CABLE MODEMS.
Clearview Investment Partners Announces Launch with Success; Firm Advises Olive Software on $6MM Investment from Sequoia Capital.
Pharmacopeia to Present at the Rodman & Renshaw Third Annual Global Healthcare Conference.
Northwestern Mutual Reaches $1 Trillion of Life Insurance in Force.
Milestone Scientific Secures $1 Million Revolving Line of Credit.
Afghan death toll hits 204.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters