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Friday, November 21, 2003

Dow Jones Licenses Portfolio Indexes

by: Sean Hanna, Editor in Chief

Mercantile Capital Advisors is readying five new mutual funds based on the Dow Jones U.S. Portfolio Indexes. The Baltimore-based bank-affiliated fund advisor purchased the exclusive rights to license, develop and market financial products based on the three-year-old indexes.

The new funds will be added to Mercantile's existing fund family, according to company officials.

Unlike pure stock or bond indexes, the Portfolio Indexes have pegged to the performance of blends of U.S. stocks, bond and cash investments. Michael A. Petronella, president of Dow Jones Indexes/Ventures described the indexes as being "a measure of order" in "nebulous and chaotic world of asset allocation and lifestyle investments."

"Product providers label their funds subjectively. One provider's 'moderate risk' portfolio is often, on a risk standard basis, equivalent to another provider's 'aggressive' portfolio. We wanted investors to be able to answer the question, 'Am I getting an appropriate return for the risk I am taking?'," he explained.

John J. Pileggi, president of Mercantile Capital Advisors said that the firm plans to use the Mercantile Dow Jones Portfolio Funds to allow investors to take into consideration both their risk tolerance. Investors will also be able to examine performance data going back two decades for the indices.

"The ability to see the historical performance of the different strategies over a long-time horizon will allow our clients to make more informed investment decisions," said Pileggi.  

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