Evergreen Investments, the asset management arm of
Wachovia Corp., plans to fold its
Strategic Value Fund into its
Disciplined Value Fund. The proposed merger, which has already been approved by the board of trustees, will be taken up at a shareholder meeting on June 23.
The plan to consolidate the funds stemmed from "an ongoing evaluation of our product line," said
Laura Fay, a spokesperson at the Boston-based firm. "They have similar investment objectives."
She added that the two funds share the same manager,
William Zieff.
As of end-February, the
Strategic Value Fund had assets of $520 million, while the
Disciplined Value Fund had $226 million.
If approved by the shareholders, the merger will take place on or about June 26.
 
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE