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Thursday, September 29, 2011|
NorthPoint Forms an Alternative Mutual Fund Group
ConvergEx Group's prime services arm, NorthPoint, has created a division aimed at helping fund firms launch alternative mutual funds, HFMWeek reports.
Jay Jacobs, a former Merlin Securities partner, will run the group.
NorthPoint CEO Doug Nelson was quoted in the article as predicting that alternative mutual funds will account for more than five percent of the market within the next 10 years.
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