PITTSBURGH, Dec. 7, 2015 /PRNewswire/ -- Federated
Investors, Inc. (NYSE: FII), one of the nation's largest investment
managers, completed the acquisition of certain assets of Huntington
Asset Advisors, Inc. relating to its management of two money market
funds. In connection with the acquisition, approximately
$930 million in Huntington money
market assets transitioned to Federated money markets funds with
similar investment objectives and strategies, including through the
orderly liquidation of Huntington Money Market Fund on Nov. 20, 2015 and the reorganization of
Huntington U.S. Treasury Money Market Fund into Federated Treasury
Obligations Fund effective as of the close of business on
Dec. 4, 2015.
Federated Investors is a leading provider of cash management
products and solutions for banks and other financial institutions,
and has more than 40 years of experience in institutional cash
management. Federated is uniquely positioned to work with these
organizations as they navigate the increasingly complex array of
choices for cash management.
"Many different types of organizations turn to Federated, a
leading provider of liquidity management products and services, 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 is in the top 4 percent of money market
managers[1]. Government and prime money market assets account for
$220.0 billion of Federated's
$246.9 billion money market assets
under management as of Sept. 30,
2015.
Federated Investors, Inc. is one of the largest investment
managers in the United States,
managing $351.0 billion in assets as
of Sept. 30, 2015. With 129 funds and a variety of separately
managed account options, Federated provides comprehensive
investment management to more than 8,400 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.
[1] Strategic Insight, 8/31/15, based on assets under management
in open-ended funds
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SOURCE Federated Investors, Inc.