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Wachovia Securities Adds Mutual Funds with Alternative Income Component to DMA Optimal Blends Managed Account Program Richmond, VA—Wachovia Securities, LLC, has expanded its multiple style portfolio program DMA to include an allocation of mutual funds that incorporate alternative income asset classes such as REITs, high yield bonds, and emerging market debt. This is the first time that equities, fixed income and mutual funds have been combined in a single discretionary managed account framework at Wachovia Securities. The new approach incorporates the mutual funds, referred to as the “alternative income sleeve” (AIS), into certain Wachovia Securities DMA Optimal Blends, an investment product that offers investors access to leading third party money managers within the framework of a single brokerage account. By providing additional asset allocation alternatives, the inclusion of the AIS to Optimal Blends is expected to equip Wachovia Securities Financial Advisors with a product that more precisely addresses their clients’ investment objectives and risk tolerance and is expected to generate additional yield for clients seeking income or growth and income. It does this by including allocations to asset classes that typically produce strong income, including REITs, high yield bonds and emerging market debt. P. Michael Jones, Chief Investment Officer of Wachovia Securities, explained that the AIS incorporates specific mutual funds selected using a rigorous due diligence process, similar to that used for evaluating and selecting the third party money managers responsible for managing the individual stock and bond portfolios within the DMA platform. “We have one of the most capable research teams in the industry, and we look at a broad range of funds in the REITs, high yield bond and emerging market debt classes to identify funds that have historically performed differently under various market conditions,” Jones said. “Funds are selected based on ‘three P’s – people, philosophy/process and performance.’ The funds are chosen not only for their capacity to provide favorable and consistent returns but also on the basis of their ability to complement each other within the recommended asset allocation framework.” Burt White, Director of the Manager Strategy Group within Wachovia Securities Advisory Services Group, leads a team of research analysts whose job is to continually monitor the funds and money managers selected for the DMA Program. The Optimal Blends are actively managed with a strategic asset allocation outlook. The Manager Strategy Group will make necessary modifications if market conditions warrant. Wachovia Securities DMA Optimal Blends incorporating AIS are available through Wachovia Securities Financial Advisors. The nation's third largest full service retail brokerage firm with more than $704 billion in client assets, Wachovia Securities provides financial advisory, brokerage, asset management and other financial services through approximately 10,500 registered representatives in more than 2,700 locations nationwide.* Wachovia Securities is the trade name used by two separate, registered broker-dealers and non-bank affiliates of Wachovia Corporation providing certain retail securities brokerage services: Wachovia Securities, LLC, member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, member NASD/SIPC. *As of 6/30/2006. About Wachovia |
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