Oppenheimer Buys Firm And Adds Fixed-Income Team

OppenheimerFunds Inc. has acquired a separate-account manager in Houston and added a portfolio team to manage investment-grade fixed-income securities.

The firm bought substantially all the assets of Gulf Investment Mangement, a separate-account manager known for its expertise in large-cap equities. Gulf Investments had more than $2.6 billion in assets under management, with separate accounts representing three-quarters of that total. Gulf and its staff will remain based in Houston and operate as a division of Oppenheimer‚s institutional money-management subsidiary, OAM Institutional.

The fixed-income team members–all formerly of the Miller, Anderson, Sherrerd division of Morgan Stanley Investment Management (MSIM)–include Angelo G. Manioudakis, who joins Oppenheimer as senior vice president and leader of the Domestic Investment Grade Team; Benjamin J. Gord, who will direct quantitative research and analysis efforts for the team; and portfolio manager Charles Moon. They will be based at the firm‚s New York office.

Along with current members of OppenheimerFunds‚ Fixed Income group, the three will manage Oppenheimer‚s Limited-Term Government Fund, U.S. Government Trust, Bond Fund and Capital Preservation Fund, as well as its variable account funds with similar investment policies and some domestic investment-grade fixed-income portfolios.

In addition to retail funds, the team will manage and work to

expand the investment-grade fixed-income assets of OAM Institutional.

For more information, visit www.oppenheimerfunds.com or call (888) 470-0862.

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