The folks at Sentinel Asset Management
are a little miffed following a case of mistaken identity.
reported that, "Sentinel, a money market mutual fund firm for commodities, has asked the U.S. Commodities Futures Trading Commission to allow it to halt client redemptions until it can conduct them in an orderly fashion." The story cites a CNBC television report as the source of the news. (The headline of the story has since been updated, adding the word "management" to the headline)
The problem is that there are two aaset management firms with Sentinel in the name, Sentinel Asset Management of Vermont, a mutual fund firm, and Sentinel Management Group
, a hedge fund manager based out of Northbrook, Illinois.
"We have no affiliation with Sentinel Management Group," Jim Cronin
, president of Sentinel Financial Services, told The MFWire
"We've got a number of calls from professionals that use our funds to make sure we are not the ones referred to in the story," Cronin continued.
Sentinel Asset Management has taken steps to clear up the confusion. Callers to Sentinel are greeted by the following recorded message: "Sentinel Asset Management of Vermont is in no way affiliated with the Sentinel Management Group of Illinois that is referred to in today's new stories."
That message also appears on Sentinel's Web site
In addition, "we put in calls and sent e-mails to people in our database assuring them we are not affiliated with Sentinel Management Group," Cronin told The MFWire
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