A Midwestern mutual fund recently made its latest acquisition, this time coming to the Big Apple.

Shannon D. Radke Integrity Viking Funds President

Earlier this month, Minot, North Dakota-based Integrity Viking Funds [profile] bought New York City-based M.D. Sass' [profile] mutual fund business. M.D. Sass had two funds: Integrity Viking has adopted the M.D. Sass Short Term U.S. Government Agency Income Fund and renamed it as the Integrity Short Term Government Fund; and the M.D. Sass Equity Income Plus Fund has been merged into the Integrity Dividend Harvest Fund. And the Integrity Viking team is still on the hunt.

Martin Sass — founder, chairman, and CEO of his eponymous firm — did not return a call for comment.

Pricing and terms of the deal were not disclosed. However, the Integrity Viking team confirmed that they are keeping M.D. Sass on as subadvisor to the rebranded Integrity Short Term Government Fund.

Shannon Radke, president of Integrity Viking, lauds M.D. Sass especially for "their highly acclaimed track record of delivering positive, stable strolls in the short-term government agency space."

Trey Welstad, PM and compliance at Integrity Viking, says that more M&A, including adoptions, is still of interest to the Integrity Viking team. They specialize in income funds. (Radke told MFWire a year that the Integrity Viking team was on the hunt.)

"We are very interested in acquiring funds, especially funds that would be a good match for our flagship Dividend Harvest Fund," Welstad tells MFWire. "Our eyes are open."

Editor's Note: A prior of this story mixed up which fund M.D. Sass will be subadvising. The firm will be subadvising the Integrity Short Term Government Fund. 

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