Touchstone Investments announced that its assets under management increased 40% in 2005 to $4.25 billion and the number of financial professionals using its funds in their clients' portfolios also rose during the year, by 53% to more than 13,600. According to Strategic Insight, Touchstone was the 10th fastest growing fund company in 2005.
"The events of 2005 demonstrate the power of Touchstone's philosophy," said Jim Grifo, president of the firm. "By selecting proven institutional investment managers and providing quality marketing support, we were able to achieve record levels of growth and assets under management."
Grifo also pointed out that Touchstone has signed an agreement to acquire the investment advisory division and the funds of Constellation Investment Management Co., which will add $3 billion to Touchstone's assets and add a number of value funds to its lineup.