Federated Acquires $929M of Mutual Fund Assets
The firm, which bought more than $4 billion in money fund assets from Fifth Third Management earlier this month, has folded some $929 million in assets of Performance Funds Trust into its portfolio.
Performance Funds Trust was formerly managed by Trustmark Corporation.
"Trustmark National Bank has been a valued client for many years, and we are pleased that they chose to work with us and transition these assets," stated Christopher Donahue, president and chief executive officer of Federated Investors. "Federated continues to seek alliance and acquisition opportunities in the United States and around the world."
