Federated Investors to Acquire Performance Funds Trust

June 28, 2012

On June 27, 2012, Federated Investors, Inc. announced that it had reached an agreement with Trustmark Investment Advisors and Trustmark National Bank to acquire approximately $903 million in assets of the funds of Performance Funds Trust.  


On June 27, 2012, Federated Investors, Inc. announced that it had reached an agreement with Trustmark Investment Advisors, Inc. and Trustmark National Bank to acquire approximately $903 million in assets, including $571 million in money market fund assets, of the funds of Performance Funds Trust.  The assets will be reorganized into Federated funds with similar investments.  The Performance Funds are comprised of eight mutual fund portfolios and are managed by Trustmark Investment Advisors.  The acquisition has been approved by Performance Funds Trust’s Board of Trustees and will be subject to a shareholder vote to approve the transaction, anticipated to take place in September 2012.  As part of the transaction, Trustmark will transfer to Federated certain assets relating to its management of the Performance Funds.  Federated will file a Registration Statement, including a proxy statement and prospectus, with the Securities and Exchange Commission.  Following the acquisition, Trustmark Investment Advisors will no longer serve as investment advisor to the funds.  Federated is an investment manager with approximately $363.6 billion in assets under management across 134 funds.  The terms of the transaction were not disclosed.

To read the press release, please click here. 


Categories

Investment Manager M&A, Mutual Fund M&A, Transactions