Deals & People August 7, 2007

Three Nicholas-Applegate Managers Form New Asset Management Firm

Three former Nicholas-Applegate portfolio managers have announced the formation of Eudaimonia Asset Management, a majority employee-owned, institutionally-focused investment advisory boutique.
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Eudaimonia Asset Management plans to offer an ultra micro cap growth, micro cap growth, and small cap growth products marketed to institutional and high-net worth investors worldwide. The firm anticipates launching its first products in the 4th quarter of 2007.

Firm Founders

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The firm’s founders have more than 20 years of combined experience in small and micro-cap investing while at Nicholas-Applegate, a San Diego firm founded in 1984 and now part of the Allianz Group, according to a press release. The founders of the new firm are:

  • Travis T. Prentice, a former partner, managing director and lead portfolio manager for Nicholas-Applegate’s Micro Cap and Ultra Micro Cap strategies;
  • Montie L. Weisenberger, who was a senior vice president and lead portfolio manager for Nicholas-Applegate’s Traditional Small-to-Mid Cap investment strategy; and
  • Joshua M. Moss, who was a vice president and research analyst on Nicholas-Applegate’s Micro and Ultra Micro Cap strategies.

The Name

Eudaimonia – a classic Greek word that Aristotle described as achieving a unique state of human or life flourishing – being happy, healthy and prosperous and virtuous throughout one’s life, according to a press release – will be based in Encinitas, in the north coast area of San Diego County. The name was chosen to symbolize the philosophy of the firm’s founders about the desired goal for their investors.

In the press release, Prentice said Eudaimonia has selected Roth Capital Partners LLC (ROTH), of Newport Beach, as its financial partner. ROTH is a full-service investment bank focused on the small and micro-cap markets. It offers a range of investment banking services, including raising capital, merger and acquisition advisory services, research, institutional sales and trading, as well as investor conferences. It has raised over $10 billion for small and micro-cap public companies and completed over 135 merger, acquisition and advisory assignments.

Eudaimonia Asset Management is in the process of seeking registration as an investment adviser with the U.S. Securities and Exchange Commission.

For further information, see www.eudaimonia-invest.com, or call 760-519-1508.

Products August 7, 2007

The Reserve Offers 401(k) Loan Product

Reserve Solutions is now offering what it says is a more flexible way for employees to borrow money from their 401(k) accounts.
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According to a press release, the ReservePlus Retirement Plan Loan Program allows employees to decide how much money they want available for loans. Until an employee needs the money, the amount stays invested in the retirement plan in a money market fund.
The company claims this will benefit plan sponsors by increasing plan participation and contribution rates among employees, because they know they have instant access to their money when they need it. The company also says the solution will decrease loan administration costs for recordkeepers.

To access the money, the employees use the ReservePlus Loan Card, similar to a debit card, at ATMs and merchants. The employees can also initiate a loan using ReservePlus checks.

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According to the company, ReservePlus enables employees to:

  • Limit their loan amount to their exact need;
  • Accelerate repayment when they choose;
  • Help avoid taxes and penalties if they change jobs; and
  • Increase their contributions as a result of increased confidence to access their money.

The parent company, The Reserve, offers financial products including mutual funds, banking products and FDIC-insured deposit accounts.

For more information visit http://www.reservesolutions.com/index.htm.

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