With the completion of Old Mutual Funds, the total number of mutual funds under Touchstone totalled to 45, while assets under management reached to nearly $12bn.
Touchstone Investments president Steven Graziano said the acquisition reflects Touchstone’s continued commitment to its primary mission – providing access to best-in-class, institutional money managers to a wide range of investors through our mutual funds.
"With the addition of these Old Mutual Funds and their affiliated managers, Touchstone increases the range of funds we offer and enhances our current offerings – particularly in the areas of U.S. Equity, Non-U.S. Equity, Asset Allocation, and Alternatives funds," Graziano said.
The firm said that it will retain 13 Old Mutual affiliated sub-adviser out of a total of 17 mutual funds that were acquired.
"Those financial advisors and private wealth managers who represent Touchstone Funds to their clients expect our sub-advisors to be accomplished and expert in their respective asset class. The OMAM money managers clearly meet that standard. I am proud to add them to the Touchstone fund complex."
Recently, the firm has brought 16 mutual funds from Fifth Third Asset Management, said the firm.
Touchstone Investments is a mutual fund company, who employs rigorous asset manager evaluation process and robust oversight approach to ensure delivery on Touchstone’s commitment of achieving competitive long-term results.
