Touchstone Investments has completed its acquisition of selected fund assets of Old Mutual Asset Management’s (OMAM’s) US mutual fund business that were previously managed by OMAM’s Old Mutual Capital subsidiary.
The addition of these Old Mutual Funds brings Touchstone’s total fund lineup to 45, assets under management to nearly USD12 billion and several new sub-advisors to its current roster of fund managers. The company announced the planned acquisition in October 2011.
"This acquisition reflects Touchstone’s continued commitment to its primary mission – providing access to best-in-class, institutional money managers to a wide range of investors through our mutual funds," said Steven M Graziano, president of Touchstone Investments. "With the addition of these Old Mutual Funds and their affiliated managers, Touchstone increases the range of funds we offer and enhances our current offerings – particularly in the areas of US Equity, Non-US Equity, Asset Allocation, and Alternatives funds."
Thirteen of the 17 acquired funds will retain their current Old Mutual affiliated sub-adviser. The Old Mutual Funds deliver an ideal fit with Touchstone as both firms have applied a sub-advised mutual fund approach built around offering investment products created through partnerships with premier money managers.
Graziano says: "Those financial advisors and private wealth managers who represent Touchstone Funds to their clients expect our sub-advisors to be accomplished and expert in their respective asset class. The OMAM money managers clearly meet that standard. I am proud to add them to the Touchstone fund complex."
Earlier this month, Touchstone announced the acquisition of 16 mutual funds from Fifth Third Asset Management Inc, expanding Touchstone’s fund offering and providing access to Fifth Third Bancorp’s premier distribution system. Both acquisitions further Touchstone’s dedication to its sub-advised mutual fund approach and commitment to offering distinct investment products based on partnerships with premier money managers.