Pittsburgh-based Federated Investors has completed the acquisition of Banknorth's four mutual funds, totaling $265.5 million in assets.

Federated spokeswoman Meghan McAndrew did not immediately return a call seeking comment.

Banknorth's fund shareholders approved the reorganization of the four funds, which will be merged into four federated funds.

"Our decision to reorganize our fund assets fits with Banknorth's commitment to provide our clients with open architecture and to offer them the best range of financial services products available," stated Robert Esau, president of Banknorth's Wealth Management Group.

A Banknorth spokesperson did not return a call seeking comment.

Exit Stage Left
BankNorth Funds	Transferred Assets (8/27/04), $MM	Federated Funds	Fund Assets (7/31/04), $MM
Banknorth Large Cap Core Fund	91.5	Federated Capital Appreciation Fund	330
Banknorth Small/Mid Cap Core Fund	13.1	Federated Kaufmann Fund	640
Banknorth Intermediate Bond Fund	89.8	Federated Total Return Bond Fund	120
Banknorth Vermont Municipal Bond Fund	71.1	Federated Vermont Municipal Income Fund	--
Total	265.5	Total	1,090
Federated release

 

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