The board of Fiduciary Management, Inc.
(FMI) Mutual Funds voted to reorganize the FMI Sasco Contrarian Value Fund into the Phoenix Mid-Cap Value Fund, the firm disclosed in a Tuesday SEC filing
Fairfield, Connecticut-based Sasco Capital
, the subadvisor to the Sasco Contrarian Fund, will subadvise the reorganized fund. Currently, Bruce Bottomley and Daniel Leary, both managing directors at Sasco Capital, co-manage the Sasco Contrarian Fund.
Phoenix Investment Counsel
, a subsidiary of The Phoenix Companies, Inc., will advise the Phoenix Mid-Cap Value Fund.
The new fund will have " substantially the same investment objectives, policies, strategies and risks as the FMI Sasco Contrarian Value Fund," officials stated in the filing.
The Sasco fund had $6.3 million in net assets as of Wednesday's end.
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