CHICAGO - Kemper Financial Services Inc. has completed the acquisition of New Jersey-based Dreman Value Management.
Specific terms of the transaction were not disclosed.
Separately, Kemper Financial Services announced that James R. Neel had been named president and chief executive officer of Kemper Advisors Inc., the adviser to the newly combined Kemper-Dreman funds.
Kemper Financial Services is a subsidiary of Kemper Corp., a leading provider of mutual funds through banks and the owner of Invest Financial Corp., a company that helps banks market investment products.
The Dreman funds will be available through banks just as Kemper funds are, said a spokesman.
The Dreman mutual funds will be renamed the Kemper-Dreman High Return Fund, the Kemper-Dreman Small Cap Value Fund, the Kemper-Dreman Contrarian Fund, and the Kemper-Dreman Fixed Income Fund.
The investment functions of Kemper Financial and the acquired operation will remain separate.