Huntington Asset Advisors is selling $421 million of its fixed income fund assets to Federated Investors.

The assets will be reorganized from five will be reorganized from five Huntington fixed-income mutual funds into five Federated fixed-income mutual funds that have similar investment objectives, according to the firms.

In a statement, Federated president and chief executive officer J. Christopher Donahue said that  "We continue to seek opportunities for similar mutually beneficial transactions."

Likewise, Huntington Funds president Joe Rezabek stated that "the transaction with Federated will allow us to focus on our equity funds where we have expertise and a commitment to long-term growth."

Read more about the deal here.  

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