Federated Investors, Inc. Completes Transition of Assets into Federated Ohio Municipal Cash Trust
Jun 22, 2015, 04:01 ET
PITTSBURGH, June 22, 2015 /PRNewswire/ -- Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers, completed the acquisition of certain assets of Touchstone Advisors, Inc. related to the reorganization of the Touchstone Ohio Tax-Free Money Market Fund into the Federated Ohio Municipal Cash Trust. Since the acquisition was announced in March, approximately $100 million in Ohio tax-free money market assets have been transitioned, either before or as part of the reorganization, to the Federated Ohio Municipal Cash Trust.
With approximately $18 billion in tax-free money market assets under management as of March 31, 2015, Federated offers more tax-free state money market products than any other investment manager.
"Federated is a leading provider of liquidity management services, and we regularly work with many different types of organizations 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, Inc. is one of the largest investment managers in the United States, managing $355.8 billion in assets as of March 31, 2015. With 130 funds and a variety of separately managed account options, Federated provides comprehensive investment management to more than 7,700 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.
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