has learned, belatedly, that Meeder Investment Management
] has merged with Productive Capital Management
in a move that will increase the firm's reach among public sector clients as well as within Ohio.
Meeder is a nearly 40-year-old $6 billion Dublin-based shop which manages ten mutual funds
as well as providing investment management services to a variety of clients, including local and state governments, individuals, advisors and institutional investors.
, meanwhile, is a 23-year-old firm with roughly $2 billion in assets that provides fixed income investment management services to public entities including cities, counties, universities, school districts, libraries and state agencies in Ohio. It is based in Cleveland.
The deal caught the attention of Ohio publications such as the Columbus Business Journal
and the Plain Dealer
Here is the press release:
Company Press Release
Meeder Investment Management and Productive Capital Management Announce Merger
DUBLIN, Ohio, Oct. 9, 2013 -- Meeder Investment Management Inc., based in Dublin, Ohio, and Productive Capital Management, Inc. of Cleveland, Ohio, announced that effective October 1, 2013 they have entered into a merger agreement.
Meeder Investment Management has employed its consistent, client-focused approach to investment management for forty years serving local and state governments, individuals, advisors and institutional investors. "This is a great opportunity for Meeder, Productive and the clients we serve," said Bob Meeder, President and CEO of Meeder Investment Management. "I believe the merger of our companies is a solid fit and will leverage the strengths of both our firms to benefit our clients."
"This partnership combines the expertise of two well-respected organizations to provide public entity clients with a wider range of investment solutions, greater depth of resources, and continued commitment to excellent service," said Wade Steen, President of Public Fund Advisors, a division of Meeder Investment Management.
Productive Capital Management has provided investment management solutions to Ohio's public sector since 1990. Bill Scanlon, who will continue to serve as chairman of Productive Capital Management, stated "We are excited to be part of the Meeder organization. This partnership provides our government clients with access to enhanced credit analysis and a broader spectrum of investment options, including expanded commercial paper offerings, along with upgraded technology solutions."
Meeder currently has over $6 billion in assets under management, advisement and administration. Under the merger, the collective assets of Productive and Meeder will grow to over $8 billion. Productive will continue to maintain its Cleveland presence, in addition to its new Dublin, Ohio location.
About Meeder Investment Management and Productive Capital Management
Since 1990, Productive Capital Management has served the unique investment management needs of the public sector in Ohio. With an investment philosophy focused on the three tenets of safety, liquidity and yield, they have helped their clients successfully navigate various economic and budgetary cycles.
Since 1974, Meeder Investment Management has earned the trust of local and state governments, individuals, advisors and institutional investors with a steadfast focus on client goals and a consistent approach to investment management. Meeder has a highly skilled team of over 50 associates with significant experience serving the investment needs of public and private sector clients.
Meeder is responsible for providing advisory and administrative services to some of the largest government portfolios and fiscal operations in Ohio.
From this experience, Meeder has developed a comprehensive suite of investment solutions, from mutual funds to managed account portfolios, to help clients fulfill a wide range of investment objectives. For more information, visitwww.meederinvestment.com or call (866) 633-3371.
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