NU Online News Service, June 24, 2003, 4:36 p.m. EDT – Lockwood Advisors Inc., Malvern, Pa., is now offering registered investment advisors access to three registered, no-load hedge funds managed by Ivy Asset Management Corp and Oppenheimer/Tremont.

Lockwood and Ivy are both units of The Bank of New York Company Inc., New York.

Access to no-load hedge funds is useful to RIAs, because RIAs cannot sell funds that have loads, Lockwood says.

Advisors must be able to show that any hedge fund is suitable for a client who uses the fund, but the minimum net-worth requirements are lower for clients who invest in registered hedge funds, Lockwood says.