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Administration February 11, 2000
Liberty Considers Alternatives, Sale
November 2, 2000 (PLANSPONSOR.com) - Liberty
Financial effectively put out a "for sale" sign yesterday,
the latest in a series of fund manager ownership shifts, even
as it reported a 26% jump in assets under
management.
Reported by Nevin E. Adams
The $77-billion Boston-based fund manager announced that it had retained CS First Boston to help it evaluate strategic alternatives, including the possible sale of the company.
Liberty also reported preliminary earnings that were some 5 cents/share better than expectations, and closed 33.33% higher on Wednesday.
In addition to Liberty Asset Management, the firm has acquired a number of fund families over time, including the Stein Roe, Acorn, Newport Pacific, Colonial and Crabbe Huson families.