Smith Barney's Consulting Group has added a quartet of investment managers to its managed money program. The wirehouse added two management firms to the four existing sub-advisors for the Multi-Strategy Market Neutral Investments Portfolio. It also added three products from two additional firms to its Fiduciary Services separate account platform.

The Multi-Strategy Market Neutral Investments Portfolio offers multiple hedging strategies in a mutual fund format. Camden Asset Management won a mandate to manage the convertible arbitrage of that portfolio while Freeman Associates Investment Management won a market neutral equity mandate within the portfolio.

"We've seen an increasing demand among investors for the diversification and return potential of alternative investment strategies," said Lee Pease, director of Portfolio Advisory Services for Consulting Group. "The addition of two more sub-advisory firms in the market neutral portfolio -- bringing the total number of sub-advisors up to six -- strengthens the fund's multi-manager diversification benefits and complements the styles already employed by the existing sub advisors."

Meanwhile, the two asset managers added to Fiduciary Services were Goldman Sachs Asset Management and Citigroup Asset Management. Goldman will manage a strategic growth portfolio with a $100,000 minimum. Citigroup, which is affiliated with Smith Barney, will managed the value balanced and value balanced tax favored portfolios.

Glenn Regan, chief investment officer for Consulting Group, said that the addition of the two managers to the separate account program was part of a continuous effort to enhance the diversification potential of the platform.  

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