PITTSBURGH, Jan. 30, 2017 /PRNewswire/ -- Federated
Investors, Inc. (NYSE: FII), one of the nation's largest investment
managers, completed the acquisition of certain investment
management related assets of Horizon Advisers, an unincorporated
division of Whitney Bank.
Federated and Horizon Advisers completed the reorganizations of
three Hancock Horizon funds managed by Horizon Advisers into
comparable Federated mutual funds managed by Federated's advisory
subsidiaries. In connection with the reorganizations,
approximately $435 million in assets
of one fixed-income and two equity Hancock Horizon funds
transitioned to Federated funds with comparable investment
objectives and strategies.
In relation to the reorganization, approximately $150.7 million was transitioned from the Hancock
Horizon Value Fund to the Federated MDT Large Cap Value Fund,
approximately $136.5 million was
reorganized from the Hancock Horizon Growth Fund to the Federated
Kaufmann Large Cap Fund, and approximately $147.8 million was transitioned from the Hancock
Horizon Core Bond Fund to the Federated Total Return Bond Fund.
"Federated's extensive experience in these types of transactions
makes us an ideal fit for Horizon Advisers," said Joe Machi, director of alliances at Federated.
"We will continue to seek alliance and acquisition opportunities
with insurers, banks, broker-dealers and investment advisors in
the United States and around the
world."
"Federated has been a trusted partner of Horizon Advisers for
many years and we are pleased this project has been successfully
completed," said David Lundgren,
chief investment officer of Horizon Advisers. "Horizon
Advisers will continue to concentrate on our remaining 10 Hancock
Horizon Funds that are focused on small cap and other niche asset
classes."
Federated Investors, Inc. is one of the largest investment
managers in the United States,
managing $365.9 billion in assets as
of Dec. 31, 2016. With 124 funds and a variety of
separately managed account options, Federated provides
comprehensive investment management to more than 8,500 institutions
and intermediaries including corporations, government entities,
insurance companies, foundations and endowments, banks and
broker/dealers. For more information, visit
FederatedInvestors.com.
Horizon Advisers is an unincorporated division of Whitney Bank (established 1899) which is a
wholly owned subsidiary of Hancock Holding Company.
Whitney Bank manages assets for
institutional and high net worth clients including pension plans,
endowments, foundations, government entities, corporations, trusts,
and estates. Whitney Bank uses
these trade names: Hancock, Hancock Bank, and Whitney.
For more information, visit hancockhorizon.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.