Under the agreement, AFBA 5Star Funds becomes part of the FBR Funds family of mutual funds.
FBR Capital Markets provides investment banking, merger and acquisition advisory, institutional brokerage, prime brokerage, and research services through its subsidiary FBR Capital Markets & Co.
Russell Parker, chief marketing and distribution officer f FBR Asset Management Holdings, said: “Our acquisition of the AFBA 5Star Funds is an accretive investment for our asset management business consistent with our strategic plan. This acquisition will increase our assets under management by 15% and further broaden our investor base, notably within the advisor-assisted and institutional channels.”
