Parametric Portfolio Associates LLC, A Subsidiary Of Eaton Vance Corp., To Acquire The Clifton Group Investment Management Company
"For more than 25 years, Clifton has focused on partnering with institutional clients to help them optimize their portfolio exposures, balance risk and control costs," said Mr. Hansen. "As part of Parametric, our ability to help clients meet these objectives will be significantly enhanced. My colleagues and I embrace the Parametric partnership with great enthusiasm."
"Since becoming part of Eaton Vance in 2003, Parametric has been a key element of our strategy to position the Company for an evolving investment management landscape and a major contributor to our growth," said Thomas E. Faust Jr., Chairman and Chief Executive Officer of Eaton Vance Corp. "The Clifton acquisition elevates Parametric's market position and overall importance to Eaton Vance."
Completion of the transaction is expected on or about December 31, 2012 and is subject to certain customary closing conditions. Terms are not being disclosed.
About Parametric
Parametric is a Seattle-based investment management firm focused on the delivery of rules-based, risk-controlled strategies, including engineered alpha-seeking portfolios, options strategies and customized equity and centralized portfolio management implementation services. As of September 30, 2012, Parametric managed $53.1 billion in assets on behalf of institutions, high-net-worth individuals and fund investors in the U.S. and internationally. Parametric is a majority-owned subsidiary of Eaton Vance. About Eaton Vance Eaton Vance Corp. is one of the oldest investment management firms in the United States, with a history dating to 1924. Eaton Vance and its affiliates managed $198.2 billion in assets as of September 30, 2012, offering individuals and institutions a broad array of investment strategies and wealth management solutions. Eaton Vance's long record of providing exemplary service, timely innovation and attractive returns through a variety of market conditions has made it the investment manager of choice for many of today's most discerning investors. SOURCE Eaton Vance Corp.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
