At a time when merger activity in the mutual fund industry has slowed, Western-Southern Enterprise, an insurance and financial services company in Cincinnati, Ohio, is increasing its mutual fund presence through acquisitions.

Fort Washington Investment Advisors of Cincinnati, an affiliate of Western-Southern, announced on Aug. 27 that it has reached an agreement to buy the mutual fund and back office businesses of Countrywide Financial Services of Cincinnati, a subsidiary of Countrywide Credit Industries. Executives declined to disclose the purchase price.

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