Federated Investments has acquired two mutual funds from Touchstone Advisors, the Touchstone Value Opportunities Fund and the Touchstone Diversified Small Cap Value Fund. Combined, the two funds have $233 million in assets. And they will be folded into the Federated Clover Value Fund and the Federated Clover Small Value Fund, respectively.

“With the creation of similar funds by Federated following its acquisition of certain assets of Clover Capital Management in late 2008, the two fund reorganizations make sense for Touchstone fund shareholders,” said Jill T. McGruder, president of Touchstone.

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