Fifth Third Asset Management
has begun looking outside the bank channel for distribution of its mutual funds.
"We started marketing our SMAs to the broker-dealer channel in 2005, which got people familiar with our story, " Rick Ille
, managing director of products and marketing, Fifth Third Asset Management told the MFWire
. He added that Fifth Third has now begun leveraging these relationships to gain distribution for its funds.
Fifth Third already has it's funds on the platforms of Morgan Stanley
and Merrill Lynch
. Ille said that the company soon hopes to add its funds to more of these platforms.
Ille also said the new distribution push led to the company's selection of BFDS
as a transfer agent to leverage its wirehouse relationships and technical capabilities.
There is currently no mass marketing push planned for Fifth Third's funds, Ille said. However, the company has not ruled it out for the future.
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