[April 28, 2004] Advanced Investment Partners Exceeds $1 Billion in Assets under Management BOSTON --(Business Wire)-- April 28, 2004 -- Advanced Investment Partners (AIP), a quantitative equity fund manager and member of State Street Global Alliance, LLC, announced today that its total assets under management have surpassed US$1 billion. Established in 1996 as part of State Street Global Alliance, AIP manages assets for its clients through advanced quantitative methods. AIP has built its investment strategies upon fundamentally driven investment disciplines implemented through systematic computer-driven models that incorporate elements of non-linear analysis and artificial intelligence. "AIP's significant growth in assets under management is a testament to the success of our expanded product line and expansion beyond the institutional markets into the private client community," said Barry Schneirov, managing partner for business development with AIP. "We now offer eight U.S. equity investment strategies to institutional and high-net-worth individuals, including our recently introduced TaxManaged AllCap strategy for taxable clients." State Street Global Alliance LLC is the strategic venturing partnership jointly owned by State Street Global Advisors (SSgA) and Stichting Pensioenfonds ABP (ABP), one of the world's largest pension funds. The Alliance seeks out innovative asset management firms that complement SSgA's existing investment strategies and offer value-added performance to ABP's pension plan assets. "Exceeding $1 billion in assets under management is a great milestone for everyone associated with AIP," said Doug Case, president and chief investment officer of AIP. "Investors are increasingly embracing the benefits of quantitative investment methods and have particularly endorsed the strength of the partnership we have developed with ABP and State Street Global Advisors." About Advanced Investment Partners (AIP) Formed in 1996, Clearwater, Florida-based AIP is a pioneer and leader in the use of advanced quantitative methods to manage more than $1.25 billion in assets. Its investment strategies are based on computer-driven models that incorporate aspects of many successful investment disciplines to create a comprehensive stock selection process designed to add value in "all seasons." AIP's methods differ from other quantitative managers in its use of multi-perspective valuation models that include elements of non-linear analysis and artificial intelligence, such as neural networks and genetic algorithms, which allow a model to learn from its updated valuation analysis through time. AIP offers a total of eight US equity investment strategies to institutional and high-net-worth individuals. For more information, visit www.aipllc.com. About State Street Global Alliance LLC State Street Global Alliance LLC, created in February 2001, in partnership with ABP, the world's second largest pension fund, is the strategic venturing arm of State Street Global Advisors. It builds on an initiative called Global Alliance that was established in 1997 as an operating unit of SSgA to seek out innovative asset management firms that complement SSgA's existing investment strategies. The firms held by Global Alliance LLC include: Advanced Investment Partners, a U.S. equity quantitative fund manager based in Clearwater, Florida; Boston Capital Management, a holding company for Pallada Asset Management, a Moscow-based fund manager; Innovest Strategic Value Advisors, Inc., an internationally recognized investment research and advisory firm based in New York City; Rexiter Capital Management, a London-based active fundamental emerging markets manager; Shott Capital Management, LLC, a California-based manager of public securities of post-venture capital management companies; SSARIS Advisors, LLC, a Stamford, CT based absolute return strategy manager, and The Tuckerman Group, a manager of real estate investment portfolios based in Purchase, New York. About State Street Global Advisors State Street Global Advisors, the investment management group of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.2 trillion in investment programs and portfolios, State Street Global Advisors has investment centers in Boston, Hong Kong, Tokyo, Singapore, London, Paris, Montreal, Munich, and Sydney, and offices in 28 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com. [ Back To TMCnet.com's Homepage ]