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Wednesday, July 11, 2001

Lutherans Join Forces

Reported by Sean Hanna, Editor in Chief

The two leading Lutheran fund organizations -- The Aid Association for Lutherans (AAL) based in Appleton, Wisconsin and the Lutheran Brotherhood of Minneapolis -- are planning to come together in a union that will form a financial institution with more than $60 billion in assets and 3 million members. Together, the two organizations currently offer 25 mutual funds to their members.

The Lutheran Brotherhood has $4.5 billion in assets under management in 10 funds, including 6 equity funds and 4 fixed income funds. Meanwhile, AAL Mutual Funds offers 15 funds, including 11 equity funds and has $7.8 billion in assets.

The union of the two organizations is expected to close by the end of the year. Neither organization discussed specific plans for the two fund families. A spokesperson explained that the firms are unable to discuss plans for products until the merger is approved.

Expect the joined organization to cut costs by eliminating overlap in the two fund families and to streamline their sales and marketing efforts.

The firms have created a Web site at LutheranMarket.com to explain the merger to members.

Lutheran Brotherhood AAL Mutual Funds
LB Opportunity Growth Fund The AAL Technology Stock Fund
LB Mid Cap Growth Fund The AAL Aggressive Growth Fund
LB World Growth Fund** The AAL Small Cap Stock Fund
LB Growth Fund The AAL Mid Cap Stock Fund
LB Fund The AAL International Fund
LB Value Fund The AAL Capital Growth Fund
LB High Yield Fund The AAL Equity Income Fund
LB Income Fund The AAL Balanced Fund
LB Municipal Bond Fund The AAL Small Cap Index Fund II
LB Limited Maturity Bond Fund The AAL Mid Cap Index Fund II
The AAL Large Company Index Fund II
The AAL High Yield Bond Fund
The AAL Municipal Bond Fund
The AAL Bond Fund
The AAL Money Market Fund
 

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