Fifth Third said to be selling off muni funds

Fifth Third Asset Management Inc. is selling off all its municipal bond funds to Federated Investors Inc., according to the website fundaction.com.
SEP 05, 2008
By  Bloomberg
Fifth Third Asset Management Inc. is selling off all its municipal bond funds to Federated Investors Inc., according to the website fundaction.com. As a result, the Cincinnati-based regional-banking corporation will no longer be in the bond market. Fifth Third has $1 billion in assets under management in the funds, according to the New York-based site. Federated Investors of Pittsburgh is an investment manager with about $237 billion in assets under management, according to published reports. Fifth Third Asset Management is a unit of Cincinnati-based Fifth Third Bancorp.

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