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VOL. 110 | NO. 194 | Monday, October 7, 1996

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A Connecticut-based investment firm has opened a Memphis office to manage equity and fixed income portfolios for individuals, corporate retirement plans and other investment accounts. Connecticut investment firm opens Memphis office By CAMILLE H. GAMBLE The Daily News A Connecticut-based investment firm has opened a Memphis office to manage equity and fixed income portfolios for individuals, corporate retirement plans and other investment accounts. Gintel Equity Management was founded in 1971 as a registered investment adviser. Tom Dorian, Bob Eason and Charles Jalenak have joined veteran investment officer Cecil Godman to build the new operation in Memphis. Godman, a Memphis native, moved back months ago to plan the Southern expansion. Dorian and Eason have left their positions at Front Street Capital Management, the investment management arm of Union Planters Bank Trust Group. Jalenak joins Gintel as vice president after having worked at Merrill Lynch in New York, Morgan Keegan and most recently as chief investment officer of a family-owned investment company. The firm plans to change its name soon to Gintel Asset Management Inc. to reflect the new services it will be providing its clients. The Memphis office will be only the second for the investment firm. However, the firm will soon merge with a Jackson, Miss.-based firm, Brown Asset Management, Godman said. "Memphis is where Im from, and I wanted to move back down here," Godman said. "I told (Gintel) there was an opportunity to build our business." Godman said the fact that the local office is made up of native Memphians will be a plus for business. "There are good investment advisers in the area, and we have some very strong competition," Godman said. "We have more of a growth bias than a value bias, and many of our competitors down here are much more value oriented. We felt our size and our ability to service clients will be a leg up. "Gintel has historically been an equity management firm, performing original, in-depth research to identify outstanding investment opportunities," Godman said. "Gintels approach has been to invest in a relatively small number of stocks to maximize clients long-term returns." "Formation of the new office in Memphis brings a breadth of professional expertise and market experience not only to existing clients but also to prospective new clients whom we hope to attract to our style of investing," said Robert Gintel, the companys chairman and chief executive officer. Godman said he is hoping the companys mutual fund, the Gintel Fund, will do well in Memphis. The Gintel Fund is a no-load, open-end mutual fund founded in 1981 by Gintel. The fund has about $148 million in assets, Godman said. Through Aug. 31, the Gintel Fund has posted a year-to-date return of 22.3 percent and ranks 11th out of 664 growth funds ranked by Lipper Analytical Services. Gintel Equity Management has taken space in the Sedgwick Center at 1000 Ridgeway Loop in East Memphis.
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 56 289 2,908
MORTGAGES 55 226 2,009
FORECLOSURE NOTICES 14 51 326
BUILDING PERMITS 108 1,002 6,703
BANKRUPTCIES 42 248 1,225
BUSINESS LICENSES 0 115 606
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0