Moreton Asset Management, a Farmington-based investment advisor specializing in portfolio management for corporations, municipalities, nonprofits, credit unions and insurance companies, has been acquired by Meeder Public Funds of Columbus, Ohio.
Terms of the transaction were not disclosed, but the firms said Moreton’s approximately $4.71 billion in assets under management will now be part of the Meeder portfolio, serving over 600 entities.
Founded in 2005, Moreton Asset Management directs tailored fixed-income and money market portfolio management and primarily provides discretionary, specialized and personalized investment services.
Established in 1974, Meeder Investment Management founded Meeder Public Funds in 1990. Meeder Public Funds specializes in the management of operating and project funds and handles investment solutions for states, counties, cities, schools, higher education institutions and special districts. In addition to its headquarters in Ohio, it has offices in Austin, Texas; Denver; Lansing, Michigan; Las Vegas; Long Beach, California; Phoenix; and Salt Lake City.
“We are pleased to join Meeder Public Funds,” said Jason Williams of Moreton Asset Management. “This partnership reflects a strong alignment in philosophy and a shared commitment to serving public entities and institutional clients.”
“This is truly a tremendous addition to Meeder Public Funds,” said Bob Meeder, CEO and president of Meeder. “The Moreton Asset Management team are highly respected leaders in the public funds space. Bringing our teams together strengthens our ability to deliver customized investment solutions supported by the depth, experience and focus our clients rely on.”