Donaldson, Lufkin & Jenrette's investment management arm said Wednesday that it had hired Funds Distributor Inc. to direct and expand sales of its mutual funds.
The Winthrop Funds have been sold chiefly to clients of the New York brokerage and its parent, The Equitable.
Funds Distributor, based in Boston, was tapped to increase sales through registered investment advisers, financial planners, and other intermediaries, said Beverly J. Moore, senior vice president of DLJ Asset Management Group.
The nine Winthrop Funds-five equity, two fixed income, and two money market portfolios-have $860 million of assets under management. DLJ Asset Management manages $17 billion of assets.
The funds' managers also handle accounts for wealthy and institutional clients of DLJ Asset Management. Funds Distributor will work to make the brand better known among financial intermediaries, Ms. Moore said.