Presidium Retirement Advisers Launch New Collective Investment Funds
CHARLOTTE, NC, July 10, 2006 -- Presidium Retirement Advisers Inc. and Fiserv Investment Support Services (Fiserv ISS), a business unit of Fiserv Inc. (Nasdaq: FISV), announced today the availability of the Multi-Dimensional Premium Funds to retirement plan professionals who hold plan assets with Fiserv Trust Company. The Multi-Dimensional Premium Funds are Collective Investment Funds (CIFs) that invest in multiple mutual funds according to diversified asset allocation portfolios.
Fiserv Trust Company is trustee of the CIFs and has selected Presidium Retirement Advisers as sub-advisor to each CIF. Fiserv Trust will invest CIF assets using asset allocation strategies developed by Presidium that focus primarily on 10 registered mutual funds advised by Dimensional Fund Advisors. Fiserv Trust Company will calculate and report a daily unit value for each CIF portfolio. The CIF platform is part of Fiserv ISS' Portfolio Solutions, which also includes Separately Managed Accounts and Unitized Managed Accounts.
Presidium selected Dimensional based on its scientific approach to global investing across multiple dimensions of risk and return. The new series of CIF portfolios is designed to reduce administration expenses and provide improved performance monitoring.
Rick Canipe, Presidium's Chief Investment Strategist, said, "These CIF portfolios provide a way for the average working American to diversify his or her assets through engineered strategies associated with Dimensional. We believe the Multi-Dimensional Premium Funds are an excellent way to enhance a retirement plan's investment menu."
The Multi-Dimensional Premium Funds are available exclusively to employee benefit plans that are qualified for tax exemption under Sections 401 and 501 of the Internal Revenue Code, and to government plans, including Section 457 plans, within the meaning of Section 818(a) of the Internal Revenue Code. The CIFs are designed to give retirement plan participants access to innovative strategic asset allocation models with a focus on long-term performance. The CIF portfolios are intended to offer broad, cost effective diversification and increased exposure to the small cap and value stocks targeted by Dimensional's mutual funds as well as Presidium's ongoing risk management.
The CIF portfolios do not require a minimum investment and thus seek to allow retirement plan participants to benefit from the use of lower priced share classes designed for institutional investors.
John Newman, vice president of Institutional Retirement Plan Services at Fiserv ISS said, "Choice and flexibility are key to the portfolio solutions we offer retirement plan professionals. The Multi-Dimensional Premium Funds enable plan participants to benefit from a range of disciplined strategies designed to meet the participants' investment objectives."
For more information on the CIF portfolios and the research behind them, please contact Rick Canipe at Presidium Retirement Advisers Inc. toll free at 866.560.0835 or John Newman at Fiserv ISS at 303.294.5831.
About Presidium Retirement Advisers
Presidium Retirement Advisers, Inc. is a United States SEC Registered Investment Adviser and owns Millennium Investment and Retirement Advisors, LLCs. Services are designed to help the retirement plan sponsor and plan fiduciaries with their investment responsibilities. Presidium offers best practices, investment due diligence, open architecture, plan analysis and design, independent vendor search, benchmarking analysis, employee education and communications. More information can be found on their website at www.presidiumadvisers.com
About Fiserv Investment Support Services
Fiserv Investment Support Services provides products and services through Fiserv Affinity, Inc., and Fiserv Trust Company. Fiserv Trust Company, headquartered in Denver, is one of the nation's largest independent trust companies, administering 316,000 self-directed retirement and custodial accounts valued at $40.7 billion. The company provides quality trust, custodial and back office services to the financial services industry. Fiserv ISS can be found on the Internet at http://www.fiserviss.com/. Fiserv Trust Company is a business unit of Fiserv, Inc., a Fortune 500 company.
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