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.

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:

  • 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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