OppenheimerFunds' acquisition of Houston asset manager Gulf Investment Management last week is part of a three-year strategy to build its services for high-net-worth clients, a company official said in an interview. The move comes during a time when wealthy investors are increasingly demanding more advice and a greater customization to their products

Starting in April 1999 with the acquisition of institutional money manager Trinity Investment Management Corp., Oppenheimer has been building what its officers call a comprehensive line of services for the wealthy, including an array of managed accounts, donor advised-funds and a 529 program. In addition, the company began offering hedge funds in October of last year after buying hedge fund manager Tremont Advisors.

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