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Publish Date : 18-Mar-2014

Federated Investors, Inc., one of the nation's largest investment managers, and Huntington Asset Advisors, Inc., an investment adviser subsidiary of The Huntington National Bank, have reached a definitive agreement regarding the acquisition by Federated of certain assets relating to Huntington's management of its fixed-income mutual funds. In connection with the acquisition, approximately $421 million in fixed-income assets will be reorganized from five Huntington fixed-income mutual funds into five existing Federated fixed-income mutual funds with similar investment objectives.

"For decades, Federated has worked closely with banks to develop and offer high-quality investment products that meet the financial goals of their customers," said J. Christopher Donahue, president and chief executive officer of Federated Investors, Inc. "Federated's extensive range of fixed-income strategies and our intermediary-driven customer-service approach provide an ideal opportunity for the shareholders of the Huntington Funds to transition to Federated. We continue to seek opportunities for similar mutually beneficial transactions."

"Federated has a long track record in delivering value for its shareholders," said Joe Rezabek, president of the Huntington Funds. "The transaction with Federated will allow us to focus on our equity funds where we have expertise and a commitment to long-term growth."

The reorganization is expected to be tax-free and is anticipated to be completed in the second quarter of 2014. Closing of the transactions is subject to shareholder approval and certain other contingencies.

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