PITTSBURGH, June 22, 2015 /PRNewswire/ -- Federated
Investors, Inc. (NYSE: FII), one of the nation's largest investment
managers, completed the acquisition of certain assets of Touchstone
Advisors, Inc. related to the reorganization of the Touchstone Ohio
Tax-Free Money Market Fund into the Federated Ohio Municipal Cash
Trust. Since the acquisition was announced in March,
approximately $100 million in
Ohio tax-free money market assets
have been transitioned, either before or as part of the
reorganization, to the Federated Ohio Municipal Cash Trust.
With approximately $18 billion in
tax-free money market assets under management as of March 31, 2015, Federated offers more tax-free
state money market products than any other investment manager.
"Federated is a leading provider of liquidity management
services, and we regularly work with many different types of
organizations as they evaluate their cash-management needs," said
Joe Machi, director of alliances at
Federated. "We will continue to consider and evaluate
alliance and acquisition opportunities with asset managers, banks,
insurers and broker/dealers in the United
States and around the world."
Federated Investors, Inc. is one of the largest investment
managers in the United States,
managing $355.8 billion in assets as
of March 31, 2015. With 130 funds and a variety of
separately managed account options, Federated provides
comprehensive investment management to more than 7,700 institutions
and intermediaries including corporations, government entities,
insurance companies, foundations and endowments, banks and
broker/dealers. For more information, visit
FederatedInvestors.com.
Certain statements in this press release, such as those related
to Federated's efforts to seek alliance and acquisition
opportunities, constitute forward-looking statements, which involve
known and unknown risks, uncertainties and other factors that may
cause the actual results, levels of activity, performance or
achievements of the company or industry results to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied by such forward-looking
statements. Among other risks and uncertainties is the ability of
Federated to identify and complete suitable acquisitions, and the
risk factors discussed in the company's annual and quarterly
reports as filed with the Securities and Exchange Commission. As a
result, no assurance can be given as to future results, levels of
activity, performance or achievements, and neither the company nor
any other person assumes responsibility for the accuracy and
completeness of such statements in the future.
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SOURCE Federated Investors, Inc.