Touchstone Investments, a wholly owned subsidiary of Western & Southern Financial Group, completed its acquisition of select assets of AIG Life & Retirement’s Retail Mutual Funds business on July 16. AIG Life & Retirement is a division of American International Group, Inc. (NYSE: AIG). The planned acquisition was announced in February.
“We welcome AIG Fund shareholders and their financial professionals to the Touchstone family. This acquisition reflects Touchstone’s continued commitment to providing access to best-in-class institutional asset managers to a wide range of investors through our mutual funds,” said Blake Moore, president and chief executive officer of Touchstone Investments. “In addition to significantly increasing our assets under management, we are now offering two new funds that we believe are important to investors and Touchstone.”
AIG Funds, with assets totaling $6.8 billion, were reorganized and merged into either existing or newly created Touchstone funds, which brings Touchstone’s fund lineup to 32 funds with assets under management to $35.9 billion.
| AIG FUND |
EXISTING TOUCHSTONE FUND |
|---|---|
| AIG Focused Alpha Large-Cap Fund | Touchstone Large Cap Focused Fund |
| AIG Focused Growth Fund | Touchstone Sands Capital Select Growth Fund |
| AIG Multi-Asset Allocation Fund | Touchstone Balanced Fund |
| AIG Active Allocation Fund | |
| AIG Strategic Value Fund | Touchstone Value Fund |
| AIG Senior Floating Rate Fund | Touchstone Credit Opportunities Fund |
| AIG U.S. Government Securities Fund | Touchstone Active Bond Fund |
| AIG International Dividend Strategy Fund |
| AIG FUND | NEWLY CREATED TOUCHSTONE FUND |
|---|---|
| AIG Focused Dividend Strategy Fund | Touchstone Dividend Equity Fund |
| AIG Select Dividend Growth Fund | Touchstone Dividend Equity Fund |
| AIG Strategic Bond Fund | Touchstone Strategic Income Opportunities Fund |
| AIG Flexible Credit Fund | Touchstone Strategic Income Opportunities Fund |
Fort Washington Investment Advisors, Inc., a wholly owned subsidiary of Western & Southern Financial Group, serves as sub-advisor to the newly created Touchstone Dividend Equity Fund and Touchstone Strategic Income Opportunities Fund. The acquisition will raise Fort Washington’s assets under management to $78.5 billion. Each newly created Touchstone fund will employ established strategies that Fort Washington offers to its institutional clients. The existing Touchstone funds involved in the reorganizations will continue to be sub-advised by Fort Washington, Ares Capital Management II LLC, Barrow, Hanley, Mewhinney & Strauss, and Sands Capital Management, as applicable.
Moore added that he believes strongly in the value that financial professionals provide to individuals, families, corporations and others. As such, Touchstone distributes its funds through third-party intermediaries like registered investment advisors, private banks and consultants, as well as through financial professionals at national, regional and independent broker-dealers.
J.P. Morgan Securities LLC and K&L Gates LLP advised Touchstone Advisors, Inc. and Western & Southern Financial Group on the transaction. Piper Sandler & Co. and Willkie Farr & Gallagher LLP advised AIG on the transaction.
Important Disclosures
Please consider the investment objectives, risks, charges and expenses of each Fund carefully before investing. The prospectus and the summary prospectus contain this and other information about each Fund. To obtain a prospectus or a summary prospectus for Touchstone Funds, contact your financial advisor or download and/or request one at TouchstoneInvestments.com/Resources or call Touchstone at 800-638-8194. Please read the prospectus and/or summary prospectus carefully before investing.
Financial Professionals Contact:
Sharon Karp
Touchstone Investments
513-362-8026
sharon.karp@touchstonefunds.com
Media Contact:
José Marques
Western & Southern Financial Group
513-629-1488
jose.marques@westernsouthern.com
