The board of Citizens Bank Wealth Management has given preliminary approval for a reorganization of the Golden Oak Mutual funds, which currently have $465 million in assets under management.

Six of the portfolios will be acquired by Goldman Sachs Trust and one portfolio will be acquired by Federated Investors. According to documents filed with the SEC by Goldman Sachs Trust, shareholders will vote on September 29, 2004 on whether to accept the reorganization agreement.  

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