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Touchstone Investments Announces Purchase Agreement to Acquire Select Retail Mutual Fund Business Assets from AIG Life & Retirement
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CINCINNATI, Feb. 8, 2021 /PRNewswire/ Touchstone Investments and AIG Life & Retirement, a division of American International Group, Inc. (NYSE: AIG), announced today that Touchstone Investments, a wholly owned subsidiary of Western & Southern Financial Group, has agreed to acquire select assets of AIG Life & Retirement s Retail Mutual Funds business.
AIG s Retail Mutual Funds business manages $7.8 billion in assets across 18 mutual funds as of Dec. 31, 2020. Under the terms of the purchase agreement, 12 of those funds – with approximately $7.5 billion in assets – will be reorganized and merged into either existing Touchstone funds or into newly created Touchstone funds. After the reorganizations, the funds will be advised by Touchstone Advisors, Inc.
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Today, President Gurbanguly Berdimuhamedov held a regular meeting of the Cabinet of Ministers via videoconference, which considered priority issues of public life, as well as drafts of a number of documents. The Hyakims of the velayats and the city of Ashgabat were invited to the meeting, the State News Agency of Turkmenistan reports.
Turning to the agenda, the leader of the nation gave the floor to Deputy Chairman of the Cabinet of Ministers G. Mushshikov, who reported on the activities carried out by subordinate structures in accordance with the Resolution “On the creation of an electronic document management system and Internet websites, as well as their introduction”, signed by the President Turkmenistan on February 27, 2020. The organizations of the financial and economic block are implementing comprehensive measures to successfully solve the tasks outlined in this document.