Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

American Diversified, Orbitex Funds Will Merge

Orbitex Management of New York, investment adviser to the Orbitex Group of Funds, has announced the merger of the American Diversified Global Value Fund into the Orbitex Growth Fund.

Orbitex had been serving as interim investment adviser to the American Diversifed fund since May 5. Diversified Global Value Fund shareholders voted to approve the reorganization of the fund into the Orbitex Growth Fund on Sept. 10. The newly-merged fund has about $7 million in assets under management, said Richard Begun, portfolio manager of the Orbitex Growth Fund.