This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AMG Announces Strategic Initiatives Related To Its U.S. Retail Distribution Business

Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, today announced a number of strategic initiatives as part of its increased focus on the U.S. retail market, including rebranding Managers Investment Group LLC, its domestic retail distribution business, as AMG Funds, and aligning Aston Asset Management within the AMG Funds business. Through this process, 39 mutual funds available through Managers Investment Group will be rebranded as AMG Funds in the second quarter of 2014, a step which will more closely associate the identity of these funds with AMG. In addition, AMG will exercise its option included in the original agreement with Aston to acquire the balance of the equity of Aston that it does not already own. This option was unique to the Aston transaction. Aston will remain a distinct business within AMG Funds, serving the Aston Funds and shareholders with its own management and sales teams and back office. The transaction, which has been approved by the trustees of the Aston Funds, is subject to the approval of Aston mutual fund shareholders and is expected to close by June 1, 2014.

“We believe AMG has a tremendous opportunity to gain additional market share as U.S. retail investors seek actively managed, return-oriented investment strategies,” said Sean M. Healey, Chairman and Chief Executive Officer of AMG. “The steps we are taking – the rebranding of Managers Investment Group as AMG Funds and the alignment of Aston Asset Management within our retail platform – reflect our commitment to make the most of this opportunity by building our scale and capabilities. By leveraging the AMG name into our retail business, we will enable our Affiliates to better capitalize on the AMG brand as they bring world-class products to market.”

Rebranding of the AMG Funds

Established in 2005, Managers Investment Group is a wholly-owned AMG subsidiary with $58 billion in assets under management, assets under service and sub-advised assets. The firm provides access to many of AMG’s Affiliates through its family of mutual funds, separately managed accounts and asset allocation products. In addition, the firm oversees and distributes a number of complementary, open-architecture mutual funds managed by non-AMG Affiliates. While the names of funds currently branded under Managers Investment Group will change, the ticker symbols will remain the same. There is no change to the legal or ownership structure of the funds and the name change will have no impact on their management.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs