Federated Investors, Inc. will acquire about $142 million in Vintage mutual funds.
J. Christopher Donhahue, president and CEO of Federated Investors, Inc., called the decision an “ideal opportunity for AMCORE to transition the Vintage equity mutual funds into two of Federated’s flagship products.”
Vintage shareholders approved the transition from three separate funds: $94.9 million in equity funds, $28.4 million in growth funds, and $18.7 million in balanced funds.
“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. He predicted the move would enhance the objectivity of money managers, boosting the trust of clients in their financial advisers.