In September, the board of trustees of the Virtus Equity Trust unanimously approved
a plan to fold the Virtus Mid-Cap Growth Fund
into the Mid-Cap
. Last month, however, the trustees changed their mind.
"As recommended by Management, the Board of Trustees of the Virtus Equity Trust, on behalf of the Virtus Mid-Cap Growth Fund, has voted to not proceed with the proposed combination of the Virtus Mid-Cap Growth Fund with and into another of the Virtus Mutual Funds (the "Reorganization") as previously announced," read
the November 24 SEC filing
The plan to turn all B shares of the Mid-Cap Growth Fund to A shares also was not implemented.
A Virtus spokesperson declined to comment beyond the contents of the filing.
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