MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, April 3, 2013 Nationwide and Reich & Tang Buy the Pieces of an $8 Billion Shop An $8-billion mutual fund business based in San Francisco is splitting up and changes hands. Jessica Toonkel of Reuters reports that, according to unnamed sources, Union Bank parent UnionBanCal is selling its HighMark Funds [profile] mutual fund business. According to Reuters, Nationwide [profile] is buying HighMark's 19 non-money market mutual funds, which hold about $4 billion, while Natixis subsidiary Reich & Tang [profile] is buying the HighMark's five-fund, $4.2-billion money market mutual fund business. The wire service's unnamed sources expect the sale announcement any day now. Printed from: MFWire.com/story.asp?s=43475 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |