SOURCE: Gemini Fund Services, LLC

Gemini Fund Services, LLC

January 12, 2010 09:00 ET

Leonard Asset Management Chooses Gemini Fund Services

Gemini's Comprehensive Hedge Fund Offering Provides Daily Reconciliations and Accounting for Automated Transparency

HAUPPAUGE, NY--(Marketwire - January 12, 2010) - Gemini Fund Services, LLC (Gemini), an engaged partner to independent advisers as a provider of comprehensive, pooled investment solutions, today announced that Leonard Asset Management, Inc. has chosen Gemini to act as its full-service hedge fund administrator. The partnership testifies to Gemini's comprehensive offering to meet all the needs of clients including administration, compliance and regulatory advisory services.

"Investors and financial advisers are demanding investment options that provide full disclosure of holdings and valuations, increasing the need for hedge fund solutions that enable greater, automated fund structure and transparency," said Andrew Rogers, President of Gemini. "No matter what kind of investment vehicle a client chooses to bring to market, whether a mutual fund or hedge fund, Gemini provides daily reconciliations and accounting reports for simple and complex investment vehicles, allowing improved transparency for advisers and investors alike."

Leonard Asset Management, provider of alternative investments, is under common ownership with Leonard & Company, Michigan's largest independent brokerage firm. "Gemini has a reputation for providing valuable experience and insight into the hedge fund industry, making it the ideal partner for Leonard Asset Management's needs," said Jay B. Howard, Portfolio Manager and Chief Investment Officer, Leonard Asset Management. "Gemini's comprehensive offering enables us to focus on managing our portfolio and entrust the administration, accounting and technology to a highly experienced and established team of hedge fund experts."

As Leonard's administrator, Gemini will provide a number of transfer agency, accounting and administration services. These include AML verification, maintaining the subscription/redemption account, coordinating the payment of fees and expenses on behalf of the fund, calculation of management and incentive fees, independent valuation, net asset value calculation, cash and asset reconciliation, partnership allocations, and creating a year-end financial statement.

Gemini provides a comprehensive hedge fund services offering to meet all the needs of clients. This includes services for offshore funds as well as domestic partnerships. Gemini administers a variety of strategies, ranging from distressed debt and asset backed securities to foreign equity and private placements. Gemini also services hedge funds that directly purchase mortgage loans and properties, enabling the funds to serve as lenders amid tight credit conditions.

In addition to hedge fund administration and accounting services, Gemini has facilitated a number of hedge fund conversions and is an expert in creating pooled investment solutions, including alternative funds, mutual funds, closed-end funds, collective funds, and variable annuities.

To request more information please contact Jeremy Condie, National Sales Director: Alternative Funds, at 973.543.2748 or

For media inquiries, please contact Carol Graumann at 973.732.3521 or

About Gemini Fund Services, LLC

Gemini Fund Services, LLC provides comprehensive, pooled investment solutions as an engaged partner to independent advisers. Gemini serves as a strategic partner and resource to advisers that want to bring their own, unique investment vehicles to market, including mutual funds, hedge funds, and alternative investments such as collective investment trusts. As a full-service firm, Gemini provides the administration, accounting, and technology that advisers need in order to launch and market successful products. With over 25 years of experience creating and servicing funds, Gemini brings years of industry knowledge and insight to help advisers achieve the vision of their product and deliver the most extensive range of turnkey solutions to clients.

About Leonard Asset Management, Inc.

Leonard Asset Management, Inc. is an SEC Registered Investment Adviser that specializes in alternative investments. Leonard Asset Management is under common ownership with Leonard & Company, a federally registered securities broker-dealer and an SEC Registered Investment Adviser. Founded in 1989, Leonard & Company is a regional investment firm providing full service brokerage services. Headquartered in Troy, our other Michigan offices are in Birmingham, Grand Rapids, Grosse Pointe Farms, Saginaw and Sterling Heights, with additional offices in Florida, New York, and Colorado.

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