This content is from:APP亚博娱乐
Touchstone To Buy Old Mutual’s MF Assets
Touchstone Investments is buying Old Mutual Asset Management’s mutual fund assets worth some $2 billion.
Touchstone Investmentsis buyingOld Mutual Asset Management’s mutual fund assets worth some $2 billion,Pensions & Investmentsreports. The financial details of the transaction, likely to close by mid-2012, were not disclosed.
The bulk of the 17 Old Mutual funds being acquired by Touchstone will continue to be sub-advised by incumbent Old Mutual affiliates and will remain independent funds. The move will add 10 more sub-advisers to Touchstone’s existing 18 and boost its assets under management to some $10 billion.Berkshire Capitalis acting as Old Mutual’s adviser on the deal.
Click here for the story fromPensions & Investments.