Merrill Lynch Will Reshuffle Funds
February 7, 2000
Merrill Lynch Asset Management of Princeton, N.J. is reshuffling its international funds lineup to merge out of existence three comparatively small funds.
Merrill Lynch is asking shareholders of its Global Opportunity, Asset Growth and Asset Income funds to approve the merger of those funds into the $7.4 billion Merrill Lynch Global Allocation Fund, according to a preliminary proxy statement the Global Allocation Fund filed with the SEC Jan. 27. The assets of Global Opportunity, Asset Growth and Asset Income are approximately $62 million, $7 million and $10 million, respectively, according to the proxy statement. Shareholders are scheduled to vote on the proposals at a meeting April 26.
Separately, Merrill Lynch Global Holdings plans to change its name to Mercury Global Holdings on April 1, according to a prospectus supplement the fund filed with the SEC Jan. 24. The fund's investment adviser will change from Merrill Lynch Asset Management to Fund Asset Management of Princeton, N.J., another Merrill Lynch affiliate, according to the SEC filing. The fund had $320 million in assets under management as of Dec. 31, according to Lipper of Summit, N.J., the fund tracking firm.