Federated Investors, Inc. to Acquire Money Market Assets from Fifth Third Asset Management, Inc.

CINCINNATI--(BUSINESS WIRE)--Federated Investors, Inc. (NYSE: FII), one of the nation’s largest investment managers, and Fifth Third Bank announced that a definitive agreement has been reached regarding the acquisition of certain assets relating to the management of Fifth Third money market funds. In connection with the acquisition, approximately $5 billion of money market assets will be reorganized 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.