Administration November 10, 2001

NY Life Takes Acquisition View on Eclipse Funds

October 23, 2000 (PLANSPONSOR.com) - The wave of fund acquisitions continues again this week, with New York Life Investment Management acquiring the assets of Towneley Capital Management.
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Consummation of the acquisition is subject to approval by Eclipse Funds’ shareholders. Towneley has some $600 million in assets under management, including its Eclipse mutual fund family.

The Eclipse Funds family includes:

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  • Eclipse Ultra Short Term Income Fund
  • Eclipse Small Cap Value Fund
  • Eclipse Mid Cap Value Fund
  • Eclipse Balanced Fund

Wesley McCain will retain investment management oversight over all of the Eclipse Funds, with the Eclipse equity funds continuing to be co-managed by Kathy O’Connor and the Eclipse income and balanced funds continuing to be co-managed by Joan Sabella.

New York Life Investment Management currently has over $117 billion in assets under management.

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