MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, February 24, 2005 Columbia Continues Fund Revamp Columbia Management Group has announced plans to liquidate two funds and consolidate 13 others. The $13.1 million Columbia National Municipal Bond Fund and the $192.1 million Columbia Corporate Bond Fund will be liquidated pending shareholder approval later in 2005. "We are taking a phased approach to consolidating and updating this product line to address redundancies, achieve efficiencies of scale, and simplify the menu of choices we provide to investors," said Keith Banks, president of Columbia Management. The board of the Columbia Funds also voted to consolidate the following funds into other Columbia or Nations funds. The moves await the approval of the Nations Funds boards and existing shareholders of the affected funds. Columbia Tax-Managed Value Fund ($74.2 million) into Columbia Growth & Income Fund ($1,907.2 million) Columbia Newport Tiger Fund ($340.6 million) into Columbia International Stock Fund ($663.3 million) Columbia Tax-Managed Growth Fund II ($38.5 million) into Columbia Tax-Managed Growth Fund ($269.9 million) Columbia Mid-Cap Value Fund ($1,816.9 million) into Nations MidCap Value Fund ($571.2 million) Columbia Large Company Index Fund ($872.9 million) into Nations LargeCap Index Fund ($1,349.6 million) Columbia Small Company Index Fund ($342.4 million) into Nations SmallCap Index Fund ($1,073.2 million) Columbia Short Term Bond Fund ($507.1 million) into Nations Short-Term Income Fund ($1,100.5 million) Columbia Intermediate Government Income Fund ($356.7 million) into Nations Intermediate Bond Fund ($655.6 million) Columbia Income Fund ($632.1 million) into Columbia Intermediate Bond Fund ($1,140.4 million) Columbia Pennsylvania Intermediate Fund ($25.1 million) into Columbia Intermediate Tax-Exempt Fund ($516.2 million) Columbia Managed Municipals Fund ($421.4 million) into Columbia Tax-Exempt Fund ($1,705.2 million) Columbia Florida Intermediate Municipal Bond Fund ($68.6 million) into Nations Florida Intermediate Municipal Bond Fund ($199.8 million) Columbia High-Yield Fund, Variable Series ($86.1 million) into Nations High Yield Bond Portfolio ($98.6 million) Printed from: MFWire.com/story.asp?s=9111 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |