, Sept. 10, 2012 /PRNewswire/ -- Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers, and Fifth Third Asset Management, Inc., an indirect wholly-owned subsidiary of Fifth Third Bancorp, have reorganized approximately
in assets from four Fifth Third money market funds into four existing Federated money market funds with similar investment objectives. The transaction is not expected to have a material impact on Fifth Third Bancorp's results.
"Federated is a leading provider of liquidity management services, and we regularly work with organizations of many types and sizes as they evaluate their cash management needs," said
J. Christopher Donahue
, president and chief executive officer of Federated Investors. "This transaction builds on Federated's long-term relationship with Fifth Third by providing their clients with access to Federated's diverse range of products, experienced money managers, proven credit processes and extensive customer-service capabilities. We will continue to consider and evaluate future opportunities for similar agreements with banks, insurers and broker dealers."
About Federated Investors, Inc.
Federated Investors, Inc. is one of the largest investment managers in
the United States
in assets as of
June 30, 2012
. With 138 funds and a variety of separately managed account options, Federated provides comprehensive investment management to approximately 4,700 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit
About Fifth Third Asset Management
Fifth Third Asset Management, Inc. provides advisory services to institutional clients. Through teams of experienced and knowledgeable investment professionals, advanced research resources and disciplined investment processes, our goal is two-fold: produce superior, long-term investment results and client satisfaction.
About Fifth Third Bancorp
Fifth Third Bancorp is a diversified financial services company headquartered in
. As of
June 30, 2012
, the Company had
in assets and operated 15 affiliates with 1,322 full-service Banking Centers, including 105 Bank Mart® locations open seven days a week inside select grocery stores and 2,409 ATMs in
. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 39% interest in Vantiv Holding, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of
June 30, 2012
in assets under care, of which it managed
for individuals, corporations and not-for-profit organizations.
can be viewed at
. Fifth Third's common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB."
Certain statements in this press release, such as those related to Federated's efforts to seek alliance and acquisition opportunities, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company or industry results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Among other risks and uncertainties is the ability of Federated to identify and complete suitable acquisitions, and the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. Many of these factors may be impacted as a result of the ongoing threat of terrorism. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.