PITTSBURGH - Federated Investors has agreed to buy the mutual funds of Investment Advisers Inc., a registered investment adviser.

Federated said Monday that it would take over management, distribution, and shareholder servicing for the Minneapolis company's 11 funds.

Investment Advisers has $355 million of domestic equities and $31 million of fixed-income and money market funds. Those assets would be merged with Federated's assets, which were $125 billion across 175 funds at the end of March.

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