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Friday, September 23, 2005|
Federated Completes Vintage Funds Deal
Federated Investors completed its acquisition of the Vintage Funds this week. The Pittsburgh-based fund firm picked up $142 million in mutual fund assets from AMCORE Financial, an Illinois-based bank, in a deal that closed Monday.
The three Vintage mutual funds were merged into two Federated funds. Financial terms of the arrangement were not disclosed.
"The transition of the Vintage equity funds to Federated moves AMCORE Investment Group closer to a more open sales environment for investments," said Kenneth E. Edge, chairman, president and CEO of AMCORE Financial, Inc. "Clients today are looking for objectivity from their investment managers, and continuing to open our investment architecture provides that objectivity and complements our role as a trusted financial advisor."
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