Mutuals.com has announced its intention to increase its assets under management by buying other investment companies. The firm, which currently manages approximately $240 million, hopes to reach $10 billion in assets under management by the end of 2005.

Mutuals.com is targeting investment companies including mutual fund companies, hedge funds and private money managers that generate at least 60% of their income from asset-based fees. The failure of the firm’s advertising efforts to accrue significant assets inspired executives to shift to an acquisition strategy.

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