Fund firms with AUM in the $15 billion to $25 billion range
that are looking to sell may want to give Chris Blunt
Blunt, executive vice president in charge of the retirement income security group at New York Life
, is on the hunt to buy one or more fund companies to bolster assets at MainStay Funds, InvestmentNews
"Our fund complex makes very little money," Blunt told the pub, "We are right at the break-even point and buying a fund business would contribute to our bottom line."
Blunt is in discussions with an unspecified number of firms.
Separately, New York Life is in talks
to link up with a fund firm for distribution or product development, according to the report.
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