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Gabelli Asset Management plans to look for a new multicurrency portfolio management system in two to three months, a move that follows its decision last year to halt plans for a new search because it wanted to focus on preparing for the Year 2000 and implementing a new trading system, said Arthur Lyman, director of information services. Because the firm expects to complete a roll out of an upgraded version of Merrin Financial's trading system in August, it will have the time and resources to dedicate to a systems search. The $8 billion fund manager, which hopes to choose a portfolio management system by January, could spend up to $1 million, he added. It wants a new system because its current system, CheckFree Investment Services' APL, which it uses on a service bureau basis, does not have multicurrency features.