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Managers Funds Acquiring Conseco Mutual Fund Business
Terms of the deal provide The Managers Funds will become the adviser to all of the funds in the Conseco Fund Group, with 40/86 Advisors to remain as the sub-adviser overseeing the bond funds and existing subadvisers Chicago Equity Partners and Oak Associates to continue to manage the stock funds.
The acquisition brings about $400 million in assets under management from the Conseco Fund Group to Norwalk, Connecticut-based The Managers Funds with about $4 billion in managed assets currently. Not included in the transaction is 40/86 Advisors’ institutional separate account business.
Conseco Capital Management last month renamed itself 40/86 Advisors, a reference to the Carmel, Indiana-based company’s coordinates on a map (See Conseco Capital Maps Out New Name ).