Oct. 3, 2003 — The mutual fund arm of Affiliated Managers Grp (AMG) said it has agreed to acquire the mutual fund business of 40/86 Advisors, which was for formerly known as Conseco Capital Management Inc.

Terms of the transaction were not disclosed. The acquisition will add about $400 million in assets to Affiliated’s Managers Funds unit, which oversees about $4 billion in assets. The deal does not include 40/86 Advisors’ separate account business for institutions.

Under the deal, 40/86 Advisors will continue to manage its fixed-income funds, and Chicago Equity Partners will continue to run its stock funds. Managers Funds, which currently has 12 funds, said the deal will “broaden and deepen” its offerings.

Conseco Capital Management changed its name to 40/86 Advisors in September.