Federated Investors, Inc. Completes Transition of Approximately $300 Million in Fixed-Income Assets from Huntington Funds - Assets of five fixed-income funds transitioned into five Federated funds
PITTSBURGH, May 19, 2014 /PRNewswire/ -- Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers, completed the acquisition of certain assets relating to Huntington Asset Advisors, Inc.'s management of its fixed-income mutual funds. In connection with the acquisition, approximately $300 million in fixed-income assets previously managed by Huntington Asset Advisors, Inc., an investment adviser subsidiary of The Huntington National Bank, has been transitioned to Federated.
The fixed-income assets were transitioned from five Huntington funds into five Federated fixed-income funds with similar investment objectives through reorganizations that were completed as of the close of business on Friday, May 16.
"Federated's extensive experience in these types of agreements makes us an ideal partner for firms seeking mutually beneficial transactions, and we are pleased that Huntington chose to work with Federated," said J. Christopher Donahue, president and chief executive officer of Federated Investors, Inc. "We will continue to consider and evaluate opportunities for alliance and acquisition opportunities with banks, insurers and broker dealers in the United States and around the world."
Federated Investors, Inc. is one of the largest investment managers in the United States, managing $366.2 billion in assets as of March 31, 2014. With 134 funds and a variety of separately managed account options, Federated provides comprehensive investment management worldwide to approximately 6,100 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.
Certain statements in this press release, such as those related to Federated's efforts to seek alliance and acquisition opportunities, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company or industry results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Among other risks and uncertainties is the ability of Federated to identify and complete suitable acquisitions, and the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.
SOURCE Federated Investors, Inc.