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Friday, December 02, 2005|
Arrivato Scouting For More Acquisitions
Arrivato Advisors is in the hunt for more acquisitions now that it has signed the final on its INTRUST Financial Services acquisition.
Eric Rubin, president of the New York-based Arrivato, told the MFWire that more deals are in the pipeline.
"We are hoping to do more of this kind of deals," Rubin said in an interview. He declined to offer specifics, saying that talks are still in the early stages.
In a deal announced Wednesday, Arrivato has agreed to purchase IFS for an undisclosed amount.
IFS is the investment adviser to The American Independence Funds, a mutual fund complex with assets of over $600 million.
Under the agreement, Arrivato will replace IFS as the adviser to the 10 mutual funds in the American Independence Funds Trust pending shareholder and regulatory approvals.
Arrivato Advisors will take the name American Independence Financial Services following the completion of the transaction, which Rubin said will likely take place around the end of January.
The acquisition, he said, is intended to accelerate the company’s goal of broadening its fund family. The sales and marketing force at IFS, meanwhile, will move on to other divisions at INTRUST Bank
For 2006, one of the key initiatives at Arrivato is to be "active in working with consultants to spread the word about target date funds," Rubin said.
Arrivato has created the first series of products based on the Dow Jones US Target Date Indexes.
Printed from: MFWire.com/story.asp?s=10935
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