Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Thrivent Hires Two Subadvisors As it Rebrands Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, July 19, 2004

Thrivent Hires Two Subadvisors As it Rebrands

Reported by Sean Hanna, Editor in Chief

The AAL Mutual Funds and LB Family of Mutual Funds are no more. The two fund brands finished their merger creating the Thrivent Mutual Funds two-and-half years after the Aid Association for Lutherans and Lutheran Brotherhood merged on January 1, 2002. Both of the fund groups had been advised by Minneapolis-based Thrivent Investment Management, which was itself created at the time of the merger of the AAL and Lutheran Brotherhood.

The merger of the funds themselves involved both a reshaping of the two families' boards and an elimination of overlapping funds, said Paul Kelash a spokesperson for Thrivent Financial for Lutherans.

As part of the changes, Thrivent Investment Management also hired T. Rowe Price and Mercator Asset Management as subadvisors to the Thrivent Partner International Stock Fund, the Thrivent Partner International Stock Portfolio and the Thrivent Partner Small-Cap Value Fund and the Thrivent Partner Small-Cap Value Portfolio.

Another key change at the fund complex was a streamlining of the board overseeing the funds. With one exception, all seven of the independent directors from the two fund family boards hold seats on the Thrivent Mutual Funds board, said Kelash. The exception is Larry Woods, who retired at the time of the merger in 2001. The eighth and sole non-independent director for the new fund group is Pam Moret, executive vice president of marketing and products at Thrivent Investment Management and board president.

With seven of the eight seats held by independent directors, Kelash noted that the funds exceeded the new SEC requirements.

In addition 13 funds in the two families took on new names and another seven funds merged.

"We had some duplication of funds previously, but now we have a line-up that meets the needs of our members and provides streamlined governance and oversight of funds that leverage the Thrivent Financial brand," explained Bruce Nicholson, president and chief executive officer of Thrivent Financial for Lutherans. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use