Federated Investors is to acquire approximately USD1.1 billion of Huntington money market fund (MMF) assets which will transfer to two Federated money market funds with comparable investment objectives and strategies.
Approximately USD236 million in prime money market assets will be reorganised from the Huntington Money Market Fund into Federated Prime Cash Obligations Fund, and approximately USD870 million will be reorganised from the Huntington US Treasury Money Market Fund into Federated Treasury Obligations Fund.
"As a leading provider of liquidity-management services, Federated regularly works with organisations of many types and sizes to find the best solutions for their cash-management needs," says J Christopher Donahue (pictured), Federated's president and chief executive officer. "The acquisition builds on Federated's long-term relationship with Huntington by providing current Huntington liquidity-management clients access to Federated's experienced money managers and proven credit process."
