three of more than twelve fund firms that looked at Berger
have submitted a proposal to take over the funds. The three that have submitted offers are American Century
, Fred Alger
and Turner Investment
, according to a report published today in the Wall Street Journal
Berger's funds were essentially cut free when Janus executives took control over Stilwell Financial. At that time, Janus officials made it known that they had no interest in maintaining the Berger Funds as a separate brand. Rather, they said that the funds would likely be folded into Janus funds. The ultimate decision of how to handle the transition is up to the boards of the funds, though. The trustees have said that they will consider possibilities for the growth funds, three international funds and a balanced fund. The firm's value funds are expected to land with Janus.
All three fund firms cited by Dow Jones' newspaper confirmed that they submitted offers directly to the Berger Funds trustees.
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