Assured Return Management Corp., a new investment management firm, is offering municipal bond issuers another option for investing medium-term to long-term escrowed bond proceeds, a Lehman Brothers official said yesterday.

Through investment agreements similar to guaranteed investment contracts, the company will invest clients' funds in high-quality taxable securities, while guaranteeing investors a specific rate of return, added Gary M. Killian, a senior vice president at Lehman Brothers. Lehman will serve as adviser to the new firm.

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