Adding to its high-net-worth line of products, OppenheimerFunds’ parent corporation, Oppenheimer Acquisition Corp., will acquire Gulf Investment Management, Inc., a Houston-based separate account manager, the company announced today.

"Managed account assets have grown better than 25% a year for the last five years," said John Murphy CEO of OppenheimerFunds, in a statement. "The Gulf acquisition is a continuation of our strategy … to expand our relationship with our high-net-worth investors and their advisors."

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