Federated Investors will acquire $515 million in assets from EquiTrust Mutual Funds, confirmed Federated spokeswoman Meghan McAndrew.
A joint announcement Friday by Federated and EquiTrust Investment Management Services’ parent, FBL Financial Group, said the two firms had reached an agreement to “reorganize the portfolios of EquiTrust Series Fund and EquiTrust Variable Insurance Series Fund into comparable mutual funds managed by Federated.”
Terms of the deal, which covers equity, fixed-income and money market assets, were not disclosed.
EquiTrust Mutual Funds’ shareholders are expected to meet in July to approve the reorganizations.
