Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Touchstone Sells Two Funds To A Natural Buyer Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 29, 2009

Touchstone Sells Two Funds To A Natural Buyer

Reported by Meredith Mazzilli

Federated Investors continues its buying spree by inking a deal to buy two funds whose sub-advisor Federated already owns. On Friday, the Pittsburgh-based asset manager unveiled plans to acquire the approximately $233 million in assets from Touchstone Advisors' Value Opportunities Fund and Diversified Small Cap Value Fund.

A spokeswoman for Federated confirmed that the fund firm did not use an outside banker for the deal. Spokespeople for Touchstone could not immediately be reached for comment.

The Value Opportunities fund will be folded into the brand new Federated Clover Value Fund, and the Diversified Small Cap Value Fund will merge with the brand new Federated Clover Small Value Fund (see MFWire, 3/16/2009). Last month a third Clover-sub-advised Touchstone fund, Touchstone Clover Core Fixed Income, hired a new sub-advisor, JKMilne Asset Management (see MFWire, 4/24/2009).

This fund reorganization follows Federated's 2008 acquisition of certain assets of Clover Capital Management. Jill McGrunder, Touchstone president noted "The reorganizations provide consistency in that each fund will continue to be managed by the same team of managers utilizing substantially the same investment strategies and techniques."

Federated purchased a majority of the assets of Clover in late 2008. (See The MFWire , September 15, 2008) Clover sub-advised the Touchstone funds since their relative inception dates.

The changes are anticipated to go into effect as soon as the Federated board of trustees approves the proposed reorganizations at a meeting to be held August 2009.

Federated has been acquisition-hungry for some time. Bloomberg recently named Federated as one of several bidders vying for Columbia Management (see MFWire, 5/11/2009). And Federated has done a number of deals since the beginning of 2008 alone, including:

  • buying the CB Core Equity Fund from Central Bank and Trust Company;

  • buying the Prudent Bear Fund and the Prudent Global Income Fund from David W. Tice & Associates;

  • folding the Putnam Prime Market Fund into its Federated Prime Obligations Fund;

  • and signing on as sub-advisor for the Nationwide Money Market Fund, the NVIT Money Market Fund and the NVIT Money Market Fund II.

    (See MFWire, 5/12/2008, 7/15/2008, 7/15/2008, 9/24/2008, 12/10/2008, and 4/29/2009.) 

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

  • 0.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2025: Q3Q2Q1
    2024: Q4Q3Q2Q1
    2023: Q4Q3Q2Q1
    2022: Q4Q3Q2Q1
    2021: Q4Q3Q2Q1
    2020: Q4Q3Q2Q1
    2019: Q4Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly


    1. MFDF Director Discussion Series - Open Forum, July 9
    2. ICI webinar - The Digital Future of Asset Management: Current State and Regulatory Landscape, July 10
    3. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
    4. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
    5. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
    6. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
    7. MFDF webinar - M&A and Consolidation in Asset Management, July 16
    8. MFDF webinar - ETF Conversions, July 17
    9. MFDF Director Discussion Series - Open Forum (New York), July 22
    10. MFDF Ask Anything webinar - AI Edition, July 24
    11. MFDF webinar - Use of Derivatives by RICs, July 29
    12. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
    13. Samfund Soiree Boston 2025, August 21
    14. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
    15. ICI ETF Conference, Sep 8-10
    16. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
    17. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
    18. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
    19. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
    20. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
    21. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
    22. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
    23. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
    24. 10th annual Fuse Forum, October 8
    25. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
    26. 2025 MMI Annual Conference, Oct 15-17




    ©All rights reserved to InvestmentWires, Inc. 1997-2025
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use