Investors Capital Holdings, Ltd. (ticker: ICH, exchange: American Stock Exchange (.A))
News Release -
Investors Capital Adds Leading Money Manager to Product OfferingLYNNFIELD, Mass., May 30, 2002 /PRNewswire-FirstCall via COMTEX/ -- Theodore E.
Charles, chairman and chief executive officer of Investors Capital Holdings,
Ltd. (Amex: ICH), announced today that the firm has added a leading money
manager to their firm's products. Street Search, a Red Bank, New Jersey money
manager, will be added to the firm's product offerings and be incorporating
their most recent fund, Street Search Opportunity Fund LP, into the Investors
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"We're very happy to have partnered with such an innovative firm as Street
Search. The partnership will allow our financial professionals to market Street
Search's fund(s) and provide our financial professionals and their clients with
direct access to a leading money manager," commented Charles.
The addition of this money manager falls directly in line with the firm's
strategy to expand its product and service offerings to include experienced and
professional money managers. This strategic relationship with Street Search will
also help create additional markets for our asset management programs.
"We're excited to be part of the product offering at Investors Capital. As a
leading independent broker-dealer with about 1,000 financial professionals,
Investors Capital provides Street Search with the necessary distribution
capabilities to grow the fund's assets under management and in turn, provide
their client's with unique and proven product offerings," highlighted Jeffrey
Podesta, founder and president of Street Search Advisors.
About Investors Capital Holdings, Ltd.
Investors Capital Holdings, Ltd., of Lynnfield, MA, is a diversified financial
services company founded to meet the consumers' needs in today's financial
markets. The company owns and operates Investors Capital Corporation, Eastern
Point Advisors, Inc. and ICC Insurance Agency, Inc. Investors Capital
Corporation is a nationally recognized independent broker dealer comprised of
approximately 1,000 experienced financial professionals throughout the United
States. Eastern Point Advisors, Inc. is an investment advisory firm managing
portfolios for individual and institutional clients as well as the advisor to
the Eastern Point Advisors Twenty Fund. ICC Insurance Agency, Inc. provides
insurance services to agents of Investors Capital Corporation.
About Street Search
Street Search, LLC, of Red Bank, NJ, is an independently owned money management
firm catering to high-net-worth individuals and institutions. The company
currently manages assets for clients in two vehicles; Street Search Opportunity
Fund LP and Street Search Partners, LP; both with a bias towards small/mid cap
equities. The firm also consults clients on manager selections and has performed
due diligence on and tracks over 650 of the leading money managers in the United
Certain statements contained in this press release, which are not historical
fact, may be deemed to be forward-looking statements under federal securities
laws. There are many important factors that could cause Investors Capital
Holdings, Ltd. and its subsidiaries' actual results to differ materially from
those indicated in the forward-looking statements. Such factors include, but are
not limited to, general economic conditions, including interest rate risk,
regulatory changes (legislative or otherwise) affecting the financial services
industry, competition, demand for Investors Capital Holdings, Ltd. and its
subsidiaries' services, availability of funding, and other risks identified in
Investors Capital Holdings, Ltd.'s Securities and Exchange Commission filings.
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SOURCE Investors Capital Holdings, Ltd.
CONTACT: Timothy Murphy, Chief Financial Officer of Investors Capital
Holdings, Ltd., +1-781-593-8565, firstname.lastname@example.org
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