The imminent acquisition of U.S. Bancorp by First Bank System promises to bring a formidable mutual fund complex to a nearly national customer base.
The merged bank's program-combining the broad product spectrum of First Bank's First America Funds with the smaller but strongly performing Qualivest Funds at U.S. Bank-will rank No. 8 in assets among bank-managed mutual fund programs. First Bank ranked No. 11 in American Banker's yearend listing.