Trustmark Corp. is selling eight mutual funds with roughly $903 million of assets to Federated Investors (FII) of Pittsburgh and its subsidiaries.
The eight funds, named the Performance Funds, are managed by Trustmark Investment Advisors, the asset management arm of the $9.8 billion-asset Trustmark. Four of the eight funds are equity funds, two are fixed-income funds and the other two are money market- funds. The money fund assets are the largest of the funds with a total of about $571 million of assets. Read the story in Bank Investment Consultant.