Short Takes: Deal Adds 6 Funds To Phoenix Offerings

Phoenix Duff & Phelps this week added six mutual funds to the menu it offers to bank customers through American Phoenix, a marketing and distribution division.

Hartford, Conn.-based Phoenix Duff & Phelps, a subsidiary of Phoenix Home Life Mutual Insurance Co., last week bought Roger Engemann & Associates, a Pasadena, Calif., investment adviser that manages the equity and balanced fund family.

Roger Engemann, formerly known as Pasadena Capital Corp., manages $6 billion of assets in the funds and was valued at $180 million at closing.

The Phoenix-Engemann funds, formerly known as the Pasadena funds, join 23 other Phoenix proprietary mutual funds and bring the total assets under management at the insurance company to $44 billion.

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