Govett & Co., a British asset-management firm, has struck a deal to distribute its family of international mutual funds through American Capital Management, a Houston-based fund company.
American Capital, which manages $16 billion in mutual funds, recently announced plans to merge with Van Kampen Merritt, which manages $22 billion.
Both companies market their mutual funds through banks and Govett said in its announcement that this was an attraction of the deal.
"The arrangement will substantially increase the number of wholesalers representing the Govett products and will add a focus on the fast-growing bank and qualified retirement-plan markets," the company said:
Govett has $8.6 billion in mutual fund assets under management and administration worldwide.
Its offerings include seven U.S. portfolios. They invest in international equities, emerging markets, smaller companies, the Pacific region, Latin America, global government bonds, and developing market bonds.
American Capital's chairman, Don G. Powell, said Govett's international funds were a strong complement to American Capital's offerings.
"We have no doubt that the increasing flow of U.S. retail investment into international markets will continue, and intensify," he said.
"The relationship with Govett positions us to offer investors a full range of international products," he said.
