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Federated Investors closes acquisition of assets from Horizon Advisers

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Federated Investors closes acquisition of assets from Horizon Advisers

Federated Investors Inc. has completed the acquisition of certain investment management-related assets of Horizon Advisers.

The companies also reorganized the portfolios of three Hancock Horizon funds into comparable mutual funds managed by Federated Investors' advisory subsidiaries.

About $435 million in assets transitioned to Federated funds as part of the transaction. About $150.7 million moved from the Hancock Horizon Value Fund to the Federated MDT Large Cap Value Fund. Approximately $136.5 million was transitioned from the Hancock Horizon Growth Fund to the Federated Kaufmann Large Cap Fund and around $147.8 million moved from the Hancock Horizon Core Bond Fund to the Federated Total Return Bond Fund.

Horizon Advisers is a division of Whitney Bank and serves as investment adviser to the Hancock Horizon funds.