Paine Webber Group Inc. acquired institutional quantitative global...

Paine Webber Group Inc. acquired institutional quantitative global equity money manager DSI International Management, which will operate as a wholly owned subsidiary of PaineWebber Asset Management Inc., a new holding company. The purchase price was not disclosed. The acquisition was made as part of Paine Webber’s overall growth strategy and to add enhanced index portfolio management capabilities to the firm, according to a company statement. DSI has $5 billion in assets under management. PaineWebber Asset Management also will be the holding company for Paine Webber Group subsidiary Mitchell Hutchins Asset Management, which has $60 billion in assets under management.