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Thursday, October 05, 2006

Columbia Completes Fund Mergers

by: Armie Margaret Lee

Columbia Management announced Wednesday it has finished merging 11 of its funds into eight of its other offerings. The mergers, approved by the boards of trustees in April and later greenlighted by shareholders, form part of an initiative begun by the Boston-based firm in 2004 to simplify its lineup.

At the end of 2005, the investment management arm of Bank of America brought down the number of long-term retail funds from 119 to 87. Taking into account the latest mergers, along with the launch of three funds of funds earlier this year, the fund tally now stands at 79.  

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