Cincinnati-based Fifth Third Asset Management Inc. has filed a proxy request with the Securities and Exchange Commission to seek shareholder approval to sell four of its municipal bond funds and two of its municipal money market funds, with about $1 billion in assets, to Pittsburgh-based Federated Investors Inc. for an undisclosed price, the company has confirmed.

Contrary to a published report about the sale last week, Fifth Third is not exiting the muni bond business, according to company spokeswoman Deb DeCourcy.

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