Mergers and acquisitions (M&As) among investment companies reached a record this year, and the feverish deal making may continue into the new year as the move toward open architecture and globalization drives companies to seek attractive opportunities.

The number of transaction rose this year to 167 as of last month, compared to the previous record of 159 in all of 2004, according to Putnam Lovell NBF Securities of New York.

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