Fifth Third Bancorp and Touchstone Advisors, Inc. (Touchstone), a wholly owned subsidiary of Western & Southern Financial Group, announced today that Fifth Third Asset Management, Inc. (FTAM) and Touchstone have entered into an agreement under which Touchstone will be acquiring the assets of 16 mutual funds from FTAM. The acquisition is expected to increase Touchstone’s assets under management to $13 billion (pending Touchstone’s acquisition of selected assets of Old Mutual Asset Management's U.S. mutual fund business) and create new sub-advisory relationships with FTAM. The transaction is not expected to have a material impact on Fifth Third Bancorp’s results. “I am very excited about this transaction. In addition to increasing our assets under management, it gives us some new and interesting fund offerings, and access to a premier distribution system,” said Steven M. Graziano, president of Touchstone. “We have a long and close association with Fifth Third. The addition of these funds will benefit both companies and the clients we serve,” said John F. Barrett, chairman, president and CEO of Western & Southern. “Our transaction with Touchstone allows FTAM to focus on our core strengths – providing institutionally managed active asset management strategies,” said Keith Wirtz, chief investment officer of FTAM. Kevin T. Kabat, president and CEO of Fifth Third Bancorp added, “Our relationship with Touchstone provides us an exciting opportunity to grow our business going forward and allows us to focus on the areas where we have a strategic advantage. We look forward to working with Touchstone and leveraging our distribution platform to provide value to shareholders.” Closing of the transaction is subject to certain conditions and approvals and is expected to be completed in the third quarter of 2012. Upon the completion of the transaction, 16 FTAM funds will be reorganized into Touchstone Funds with FTAM’s affiliated investment managers continuing as sub-advisors for certain funds.