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Touchstone Expands Assets To $10 Billion With OMAM Deal

Harriet Davies Editor New York 6 October 2011

Touchstone Expands Assets To $10 Billion With OMAM Deal

Touchstone Investments, part of Western & Southern Financial Group, has entered into a definitive agreement to acquire certain assets of OMAM, the US-based asset management business of Old Mutual. Terms of the deal were not disclosed.

The transaction is expected to close early in the second quarter of 2012, subject to certain conditions and approvals. Upon completion, 17 funds which are currently part of OMAM will be reorganized into Touchstone funds, bolstering the latter firm's assets under management to just under $10 billion and adding several sub-advisors to its roster of fund managers. No changes to the funds' investment strategies are expected, but many of them will be rebranded and marketed under the Touchstone brand, the statement said.

Peter Bain, chief executive of OMAM, indicated the deal would allow the firm to focus on its core business of managing “institutionally-driven, active asset management strategies” through its affiliates.

Meanwhile, Touchstone said it remained “dedicated” to its strategy of offering investment products through institutional money managers, which act as sub-advisers on its range of funds. 

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