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DONALDSON LUFKIN & JENRETTE PERSHING DIVISION ADDS TO WRAP FEE PRODUCT LINE

 JERSEY CITY, N.J., Sept. 23 /PRNewswire/ -- The Pershing Division of Donaldson Lufkin & Jenrette said today that it has added a new mutual fund wrap fee program, called PEAK II Plus, to its popular fee-based product line. PEAK II Plus is a discretionary asset allocation mutual fund program for clients with a minimum of $75,000 to invest.
 According to Alton C. Jones, managing director of Pershing, "This program allows clients to have their accounts managed by one or more portfolio managers who specialize in mutual fund selection and client asset allocation."
 Pershing has adapted its unique PEAK Investor Profile Questionnaire to this program. With the assistance of their account executives, customers are qualified through this questionnaire for investment in one or more of five possible asset allocation styles. The initial investment advisor to PEAK II Plus is the M.D. Hirsch Division of Republic Asset Management Corporation. Managing Director Michael Hirsch is a pioneer in multi-fund investment strategies. PEAK II Plus clients receive quarterly performance evaluations as well as a monthly consolidated statement, and have access to the latest information on their portfolios through their account executives.
 PEAK II Plus complements Pershing's PEAK I and PEAK II programs, which have been enthusiastically received by the brokerage community. PEAK I, an all-inclusive fee asset management program, provides access to some of the nation's leading equity and fixed income institutional portfolio managers for clients with $100,000 or more to invest. PEAK II is a no-load mutual fund asset allocation program for clients with $50,000 to invest. With PEAK II, account executives assist clients in determining an appropriate portfolio constructed from a select list of no-load mutual funds. As with all PEAK programs, clients receive ongoing performance measurement and account reporting.
 Pershing, the nation's largest provider of correspondent brokerage services, is a division of Donaldson, Lufkin & Jenrette Securities Corporation. Pershing executes and clears equity, fixed income, mutual fund and option transactions for more than 650 independent brokerage firms and banks and provides account administration, management information and investment-related services to the securities industry. Pershing's network of correspondent firms accounts for more than 10% of the daily reported volume of shares traded on the New York Stock Exchange.
 -0- 9/23/93
 /CONTACT: Alton C. Jones of Donaldson Lufkin & Jenrette, 201-413-3343/


CO: Donaldson Lufkin & Jenrette ST: New Jersey IN: FIN SU: PDT

WB -- NY021 -- 5095 09/23/93 10:16 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
Words:400
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