News Release - February 8, 2021
Touchstone Investments and AIG Life & Retirement, a division of American International Group, Inc. (NYSE: AIG), announced today that Touchstone Investments, a wholly owned subsidiary of Western & Southern Financial Group, has agreed to acquire select assets of AIG Life & Retirement’s Retail Mutual Funds business.
AIG’s Retail Mutual Funds business manages $7.8 billion in assets across 18 funds as of Dec. 31, 2020. Under the terms of the purchase agreement, 12 of the 18 funds will be reorganized and merged into either existing Touchstone funds or into newly created Touchstone funds. After the reorganizations, the funds will be advised by Touchstone Advisors, Inc.
See below for additional information about these funds.
Fort Washington Investment Advisors, Inc., a wholly owned subsidiary of Western & Southern, will serve as sub-advisor to the newly created Touchstone Dividend Equity Fund and Touchstone Strategic Income Opportunities Fund. Each fund will employ successful strategies that Fort Washington has offered its institutional clients. The existing Touchstone funds involved in the reorganization will continue to be sub-advised by Fort Washington, Ares Capital Management II LLC, Barrow, Hanley, Mewhinney & Strauss; and Sands Capital Management, as applicable. Read full press release.
