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Rating:Rabusch Talks About the Wells-Evergreen Marriage Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 09, 2009

Rabusch Talks About the Wells-Evergreen Marriage

by: Armie Margaret Lee

Wells Fargo Advantage Funds president Karla Rabusch spoke to Dow Jones' Sam Mamudi about the merger between Wells and Evergreen Investments, expressing confidence that the combination will be a smooth one, partly because of the similar structures of the two. Both firms operate as umbrellas for individual fund management teams.

"Throughout all of our acquisitions, we've allowed the portfolio management teams to remain independent," Rabusch told Mamudi.

Once it finishes integrating Evergreen Investments, Wells Fargo will have close to 200 mutual funds and more than $250 billion of assets. At the close of August, Wells had 111 funds and AUM of $$166 billion. Evergreen had 86 mutual funds and $75 billion of AUM at end-August.

Wells Fargo acquired the whole of Wachovia, Evergreen's parent, last December. 

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