Clear Asset Management is Taking Superior Asset Management to the Next Level - Asset management Firm Closes Series B Financing and Hires two New Officers
Asset management firm Clear Asset Management completes Series B financing and announces hire of two new officers.
New York, NY (PRWEB) May 3, 2005 -- Clear Asset Management LLC ("ClearAM"), a web-enabled asset management and strategic investment newsletter firm, announced today that it has closed its Series B financing round. The Company also announced that joining the management team are Dan Nathanson as President and Chief Investment Officer and Raymond Lang as COO and Chief Compliance Officer.
In addition to select angel investors, RPM Asset Management has made a
strategic investment in the Series B round. As part of the financing agreement,
Clear Asset Management has moved into RPM's offices at 505 Park Avenue to
benefit from shared infrastructure, institutional marketing and intellectual
capital. Proceeds from the Series B round will be used to fund marketing and
operating expenses critical to achieve profitability.
This round follows
seed capital investment from the Company's founder, Andrew Corn, and from Series
A investor and Board Member, Roger Ehrenberg. Mr. Ehrenberg is Managing Director
of Geometric Group LLC, a New York City-based firm that creates, invests in and
operates technology-enabled businesses. Mr. Ehrenberg is also the former CEO of
DB Advisors, LLC, a Deutsche Bank affiliate responsible for Deutsche Bank's
global proprietary hedge fund activities.
"The closing of the Series B
round, the addition of two key management professionals and our strategic
relationship with RPM Asset Management are clearly bringing Clear Asset
Management to the next level" said CEO and founder Andrew Corn.
The seed
and Series A investments were used to develop a proprietary computer-based stock
picking program that has been thoroughly back-tested and running live money
since September 2004. Clear Asset Management's six stock market portfolios
(Large, Mid and Small-cap Growth and Value) have, in aggregate, outperformed the
S&P 500 by over 290% from September's live money inception through March 31,
2005. The initial funds also were used to create a sophisticated, proprietary
on-line publishing platform and marketing engine to track ads and optimize sell
pages.
In addition to performance, Clear Asset Management differentiates
itself from mutual funds by its "clear" and transparent communications allowing
it to provide superior asset management. Investors in Clear Asset
Management's stock market portfolios and strategic investment newsletter
subscribers are alerted to buys, sells, adds and trims, including the rationale
for each move. Investors have the assurance and comfort of knowing exactly what
is in their stock market portfolio(s) at all times and why.
To
open an account, subscribe to our strategic investment newsletter or learn more
our superior asset management services, please visit Clear Asset
Management at www.clearam.com.
Media Contacts: Jay Berkowitz, Ten
Golden Rules, www.tengoldenrules.com , 561-716-1334 and Andrew Corn, Clear
Asset Management www.clearam.com (212) 675-1070
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Source : http://www.prweb.com/releases/2005/5/prweb236064.htm