In yet another round of fund mergers and closings, Columbia Management announced
that it plans to merge away a total of eight funds. Six Nations Funds will be merged into four Columbia Funds and two Nations Funds will be merged into two other Nations Funds.
The affected funds include several state-specific municipal funds and other bond or short-term income funds.
That Nations Funds boards approved the mergers of the following funds; shareholders still have to approve the actions:
• Nations Government Securities Fund ($164.5 million*) into Columbia Federal Securities Fund ($925.4 million)
• Nations Strategic Income Fund ($238.6 million) into Columbia Strategic Income Fund ($1.29 billion)
• Nations Intermediate Municipal Bond Fund ($1.71 billion), Nations Kansas Municipal Income Fund ($72.3 million), Nations Tennessee Intermediate Municipal Bond Fund ($57.1 million) into Columbia Intermediate Tax Exempt Bond Fund ($511.2 million)
• Nations California Municipal Bond Fund ($261.6 million) into Columbia California Tax Exempt Fund ($237.5 million)
• Nations Short Intermediate Government Fund ($343.9 million) into Nations Short Term Income Fund ($1.01 billion)
• Nations Florida Municipal Bond Fund ($89.8 million) into Nations Florida Intermediate Municipal Bond Fund ($194.2 million)
*The size of the fund at the end of February is listed in parentheses.
The Nations Board also approved the previously announced merger of six Columbia Funds into six Nations Funds and the liquidation of the Nations International Value Portfolio. Shareholders have yet to vote on the proposed mergers.
Stay ahead of the news ... Sign up for our email alerts now