According to the terms of the contract, Trustmark Investment Advisors will dispose certain assets relating to its management of the Performance Funds to Federated or certain Federated advisory subsidiaries.
The Performance Funds comprises eight mutual fund portfolios including four equity, two fixed income and two money market funds.
Federated Investors president and chief executive officer J Christopher Donahue said Federated maintains a longstanding tradition of working closely with banks to offer high quality investment products that meet the needs of their customers.
"That approach, combined with the strength of our intermediary-driven customer service, provides an ideal opportunity for the shareholders of the Performance Funds to transition to Federated. We remain very interested in additional similar transactions," Donahue added.
As of 31 March 2012, Federated Investors manages $363.6bn in assets with 134 funds and a variety of separately managed account options.
