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Rating:Synovus' Mutual Funds Move North Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 10, 2007

Synovus' Mutual Funds Move North

by: Marie Glancy

Sentinel Asset Management, the Montpelier-based manager of 14 mutual funds, saw its assets increase by about 12 percent over last weekend, the Barre-Montpelier Times Argus reported Thursday. That jump is the result of a deal to acquire the four mutual funds of Georgia-based holding company Synovus, which decided to offload its MF business several months ago.

The Synovus funds -- worth some $484 million, to be added to Sentinel's existing fund assets of $4.2 billion -- will be merged into Sentinel's. The transfer represents 1,800 new shareholder accounts, a minor addition to Sentinel's existing number of more than 230,000. 

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