FGIC Advisors Inc. last week announced the expansion of its
cash
management fund program for municipalities into several new
states.
FGIC Advisors has entered into a joint venture agreement with
Denver-based Langhoff Brooks & Co. to introduce the program,
FGIC Public
Trust, in Colorado.
Langhoff Brooks will act as a sales agent for the trust, which
is
distributed by ALPS Mutual Funds Services Inc. of Denver. The
trust consists of
two funds, the US Treasury Money Market fund and the Short-Term
US
Government Income fund, both of which became operational in
mid-May.
In addition, ALPs has hired Richard Thivierge as New England
sales
manager and David Nauss as the region's marketing consultant for
FGIC
Public Trust's expansion into Connecticut, Maine, Massachusetts,
and
Rhode Island.
Both men were executives with the former Connecticut Bank &
Trust
Co.
"This is the beginning of a specific strategy to roll out into
states where
both funds are allowable investments," said Stephen Attanasio,
chief
operating officer for mutual fund management for FGIC Advisors.
FGIC Advisors is also working with PackerKane & Co.'s Winter
Park,
Fla., office to begin the program in Florida, Attanasio said.
Both funds are registered with the Securities and Exchange
Commission
and are rated triple-A by Standard & Poor's Corp. and Moody's
Investors
Service.
FGIC Advisors is a subsidiary of FGIC Holdings, the parent
company
of Financial Guaranty Insurance Co.
