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Rating:Managers Acquire Smith Breeden Funds Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, May 23, 2000

Managers Acquire Smith Breeden Funds

Reported by Jason Shank

The Managers Funds (TMF), the $3.2 billion Norwalk-Connecticut based fund family, today announced that it will acquire the retail business of Smith Breeden, which consists of three no-load mutual funds, totaling $242.6 in assets.

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 Smith Breeden
TMF, an AMG subsidiary, will retain Smith Breeden as sub-advisor for each of the three funds, once the transaction is complete. The deal will not affect Smith Breeden's $8.4 billion institutional business.

The three funds changing hands are the US Equity Market Plus (SBEPX), Short Duration US Government (SBSHX), and Intermediate Duration US Government (SBIDX) Funds.

The US Equity Market Plus Fund, which will be renamed the Managers 500 Plus Fund, is an enhanced index strategy, has $179.9 million in assets under management. The Short Duration US Government Fund, which will renamed the Managers Short Duration Government Fund, has $34.6 million in assets under management. And the Intermediate Duration US Government Fund, which will be renamed the Managers Intermediate Government Fund, has $28.1 million in assets under management. Each of the funds has a 4 star overall rating by Morningstar

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