MIAMI, FL -- (Marketwire) -- 04/03/12 -- Thomas J. Herzfeld Advisors, Inc. ("Herzfeld Advisors"), an asset management firm specializing in closed-end fund investment strategies, has completed its first Global Investment Performance Standards (GIPS) review, covering the calendar years from 2000 to 2011. The verification confirmed that the firm's policies for constructing portfolios and measuring results are in compliance with the highest globally accepted standards.
The GIPS verification was completed as Herzfeld Advisors makes a stronger push to grow its assets under management.
As part of that effort, the Miami-based firm has closed its broker-dealer affiliate in order to better serve its clients by placing more focus on managing assets. Closing the broker-dealer has allowed the firm to develop relationships with other broker-dealers rather than be perceived as a competitor.
Herzfeld Advisors has also opened up a new and more centrally located office in South Beach.
"Completing the voluntary GIPS verification is a meaningful step forward for us," said Thomas J. Herzfeld, the firm's founder and principal owner. "It confirms that our procedures for reporting performance comply with strict, worldwide standards. It assures clients that we have rigorous and transparent policies for measuring results.
"Through our research business we have provided the investment community with ideas that have led to strong, consistent investment returns," Herzfeld said. "But our own trading and investing skills have produced superior results for our clients, so we would like to expand our asset management services."
"We are seeing widespread interest in our asset management capabilities from broker-dealers, individuals, private banks, family offices, and other institutions," said Erik Herzfeld, Managing Director. "We are committed to developing that part of the business and we are actively seeking to build partnerships to pursue these opportunities."
Since Jan. 1, 2000, each of the firm's composite portfolios has significantly outperformed corresponding major indices on annualized basis over that time period.* The firm's performance measurements and processes will be verified quarterly by Jacksonville, Ore.-based Ashland Partners. Details of Herzfeld Advisors portfolios and a full presentation of the firm's performance can be found at http://www.herzfeld.com/performance.pdf.
About Thomas J. Herzfeld Advisors, Inc. (www.herzfeld.com)
Thomas J. Herzfeld Advisors, Inc., formed in 1984, is a registered investment advisor based in Miami specializing in closed-end fund investment strategies for institutions and individuals. The firm publishes monthly research on closed-end funds and calculates the Herzfeld Closed-End Average, an index of price performance and premium/discount levels of representative domestic U.S. equity closed-end funds, published weekly in Barron's. Herzfeld Advisors also operates a HERZFELD/CUBA division that serves as investment advisor to the Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA), a closed-end fund that invests in companies likely to benefit from economic and political change in the Caribbean Basin. Herzfeld Advisors claims compliance with GIPS standards.
* Past performance does not guarantee future results. All investments carry the risk of loss.
Dooley Wichman Communications