Assets under management at Touchstone Investments
climbed to over $4.25 billion in 2005, up 40 percent from a year ago. The biggest contributor to total assets was Touchstone Large Cap Growth Fund
, which saw assets rise to $890 million, representing an increase of 205 percent from $292 million, according to a news release.
The asset figures did not take into account Touchstone Advisors' pending purchase of the advisory operations of Constellation Investment Management Company and the Constellation Funds, officials said. The transaction is expected to close within the year, at which point some $3 billion will be added to Touchstone’s assets under management.
Touchstone officials also said net new assets grew by $629 million or 39 percent in 2005. Meanwhile, the number of financial professionals using Touchstone Funds as part of their clients' investment portfolios totaled over 13,600, up 53 percent from the previous year.
, president of the Cincinnati-based firm, ascribed the record growth to the selection of proven institutional money managers coupled with marketing support.
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