Federated Investors Inc., a Pittsburgh investment manager, said it has completed the purchase of $42 million of mutual fund assets from Central Bank and Trust Co. in Lexington, Ky.
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The CB Core Equity Fund's shareholders approved the deal May 7, and the purchase, Federated's 11th in the last five years, closed Monday. The core equity portfolio was assimilated into Federated's Capital Appreciation Fund, the fund company said.
Central Bank and Trust is a subsidiary of Central Bancshares Inc., which has 27 branches in Kentucky and had $1.8 billion of assets at March 31. Federated has $338.5 billion of assets under management in 147 mutual funds and various separately managed accounts.
