Scout Investment Advisors, a unit of UMB Financial Corp, announced Wednesay it completed its acquisition of Reams Asset Management Co., a an investment management firm based in Columbus, Ind.
Now that the deal has been completed, Kansas City, Mo., based Scout has $19.8 billion in assets under management.
Scout is an institutional investment manager that offers investment management services for institutional separate accounts and mutual funds through a group of wholly-owned institutional asset managers.
Reams had more than $9.9 billion in fixed income assets and served institutional clients, including Fortune 500 corporations, large public pension funds, health care organizations and a variety of universities, foundations and endowments.
“Fixed income represents a key strategic growth area,” said Andy Iseman, the chief executive officer of Scout. “The addition of Reams and their expertise in fixed income investing complements Scout’s existing equity product offerings, including a well-known International strategy, and demonstrates our commitment to providing a diversified array of top-tier investment options to the institutional marketplace.”
As previously announced, Reams will operate as a division of Scout and remain in Columbus. Its leadership team will continue to manage the business in their current roles and provide fixed income products and services to Scout.