Touchstone
Investments, part of Western & Southern Financial Group, has
entered into a definitive agreement to acquire certain assets of
OMAM, the US-based asset management business of Old Mutual. Terms of
the deal were not disclosed.

The
transaction is expected to close early in the second quarter of 2012,
subject to certain conditions and approvals. Upon completion, 17
funds which are currently part of OMAM will be reorganized into
Touchstone funds, bolstering the latter firm's assets under
management to just under $10 billion and adding several sub-advisors
to its roster of fund managers. No changes to the funds' investment
strategies are expected, but many of them will be rebranded and
marketed under the Touchstone brand, the statement said.

Peter
Bain, chief executive of OMAM, indicated the deal would allow the
firm to focus on its core business of managing
“institutionally-driven, active asset management strategies”
through its affiliates.

Meanwhile,
Touchstone said it remained “dedicated” to its strategy of
offering investment products through institutional money managers,
which act as sub-advisers on its range of funds.