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 ).
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