Advocate Opens Doors To Outside Investors

Absolute-return manager Advocate Asset Management has recently opened up its Advocate Partners LP fund to outside investors. The fund-of-funds-like vehicle, which was launched late in 2004 with partner money and now has $105 million in assets under management, uses exchange-traded-funds for its underlying investments.

"Our strategy is straightforward and low cost," said Mike Kimbarovsky, a principal at the Chicago-based firm, which was founded in 2001 by David Kudis has a registered investment advisor.