Managers Investment Group finalized plans this week to acquire $3 billion of customer assets from Freemont Investment Advisors.

The deal gives Managers control of Freemont's 12 no-load mutual funds, which are managed by independent sub-advisors, as well as assets in 401(k) plans and separate accounts. As a result of the deal, Managers now offers 37 mutual funds with $8 billion in assets.

Managers also has bragging rights to marquee investment professionals like Bill Gross of PIMCO, who now sub-advises a Freemont bond fund, and Evergreen Investment Management, which sub-advises the Managers California Intermediate Tax-Free Fund.

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