PITTSBURGH, Dec. 7, 2015 /PRNewswire/ -- Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers, completed the acquisition of certain assets of Huntington Asset Advisors, Inc. relating to its management of two money market funds. In connection with the acquisition, approximately $930 million in Huntington money market assets transitioned to Federated money markets funds with similar investment objectives and strategies, including through the orderly liquidation of Huntington Money Market Fund on Nov. 20, 2015 and the reorganization of Huntington U.S. Treasury Money Market Fund into Federated Treasury Obligations Fund effective as of the close of business on Dec. 4, 2015.
Federated Investors is a leading provider of cash management products and solutions for banks and other financial institutions, and has more than 40 years of experience in institutional cash management. Federated is uniquely positioned to work with these organizations as they navigate the increasingly complex array of choices for cash management.
"Many different types of organizations turn to Federated, a leading provider of liquidity management products and services, as they evaluate their cash-management needs," said Joe Machi, director of alliances at Federated. "We will continue to consider and evaluate alliance and acquisition opportunities with asset managers, banks, insurers and broker/dealers in the United States and around the world."
Federated Investors is in the top 4 percent of money market managers. Government and prime money market assets account for $220.0 billion of Federated's $246.9 billion money market assets under management as of Sept. 30, 2015.
Federated Investors, Inc. is one of the largest investment managers in the United States, managing $351.0 billion in assets as of Sept. 30, 2015. With 129 funds and a variety of separately managed account options, Federated provides comprehensive investment management to more than 8,400 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.
 Strategic Insight, 8/31/15, based on assets under management in open-ended funds
SOURCE Federated Investors, Inc.