Despite the scandalous black cloud that has settled over the fund industry, several investment management companies are still happily shopping for appealing mutual fund complexes, or even a single fund or two.

At the same time, a smattering of fund advisors are deciding to throw in the towel, eager to hand over the day-to-day fund management responsibilities to those better able to compete. In some cases, it has been the third-party administrator that has ended up playing unofficial matchmaker, referring client funds looking to sell out over to clients bent on making acquisitions.

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