Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:UAM Sells Separate Accounts Manager Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, September 22, 1999

UAM Sells Separate Accounts Manager

Reported by Jason Shank

United Asset Management, the Boston-based financial services holding company has sold one of its affiliates, Nelson, Benson & Zellmer, Inc. (NBZ) to NBZ's principals. The company, based in Denver, handles approximately $220 million, mostly in separate accounts.
Related Links
  • United Asset Management
  • On MFWire.com
  • UAM Launches Stable Value Fund
  • UAM Upgrades Advisor Website
  • Analytic Joins UAM Family
  • UAM Shops Pilgrim Baxter ... Again
  • It will continue to be managed by the same team as under UAM -- John Benson, Wallace Zellmer, and Thomas Herrington. Terms of the transaction were not announced.

    "UAM's policy is to not sell its affiliates except in those very rare cases where the transaction conforms with UAM's strategy while not adversely affecting the affiliate or its clients," said Norton Reamer, chairman and chief executive officer of UAM in a statement.

    "Part of our strategy is to invest alongside our partners," a corporate spokesman told the MFWire.com. "We've increased our interests in Pell Rudman & Co., an high-net-worth manager in the Colorado area in order to assist new product development, geographic expansion and back office infrastructure." Pell Rudman & Co. has $6.9 billion under management and opened a new office in Denver last year.

    "We're a very diversified firm," continued the spokesman. "The new investments we've made in the last year have been in mutual fund, institutional, and high-net-worth managers. In all we've increased our investments in 18 firms. It just depends on where we see the most promise."

    Reamer said that UAM has realized "an attractive return" from NBZ over the years but the firm's asset base has dwindled from $360 million at the end of 1998, according to Nelson's Directory of Investment Managers to the current $220 million. 

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

    3.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2022: Q4Q3Q2Q1
    2021: Q4Q3Q2Q1
    2020: Q4Q3Q2Q1
    2019: Q4Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly


    1. Director Discussion Series - Open Forum via Zoom, September 29
    2. IMEA roundtable - Portfolio Construction, September 29
    3. MMI webinar - The Future of Marketing is Changing ... Are You Ready?, September 29
    4. IDC Speaker Series - A Conversation with Roger Ferguson, October 3
    5. IDC webinar - A Conversation with Roger Ferguson, Jr., October 3
    6. 5th annual Expect Miracles Atlantic Coast Classic, October 3
    7. Nicsa Fearless Leadership Symposium, Oct 6-7
    8. 7th Annual FUSE Forum, October 6
    9. 2022 ICI Securities Law Developments Conference - day 1, October 11
    10. MFDF Director Discussion Series - Open Forum (San Francisco), October 12
    11. 2022 ICI Securities Law Developments Conference - day 2, October 13
    12. MFDF In Focus: ESG Data Requirements - What Directors Need to Know, October 19
    13. 2022 MMI Annual Conference, Oct 19-21
    14. 2022 IDC Fund Directors Conference, Oct 24-26
    15. 18th annual Expect Miracles Wine & Spirits Event, October 27
    16. Buford Capital Securities Litigation Symposium, November 1
    17. IMEA All-Council Fall Summit, Nov 2-3
    18. Nicsa 2022 General Membership Meeting, Nov 2-3
    19. Tiburon CEO Summit XLIII, Nov 7-9
    20. 2022 ICI Tech Summit, Nov 8-9
    21. UCITS & AIFMD for U.S. Managers - New York, Nov 8-9
    22. 2022 MMI Distribution Leadership Forum, Nov 9-10
    23. MFDF Asset Management Industry Update and Director Governance Trends, November 10
    24. 3rd Annual ETFGI Global ETFs Insights Summit - United States, Nov 15-16
    25. 2022 MMI Alternative Investments Forum, November 16
    26. MFDF webinar - Mutual Fund CCO Compensation: The MPI Annual Survey Update, November 16




    ©All rights reserved to InvestmentWires, Inc. 1997-2022
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use