Covington Group of Funds has completed the consolidation of the pool of assets of Covington Venture Fund Inc. Class A Shares, Series VII with the pool of assets of Covington Venture Fund Inc. Class A Shares – Series VIII and Series IX.

The consolidation, effective Feb. 23, has combined assets of the three series of the fund, resulting in a new, larger pool of assets currently amounting to over $25 million.

The merger is aimed at reducing regulatory costs for compiling and reporting financial results, Covington says.

The consolidation received the necessary regulatory approvals and was approved by shareholders at the fund’s annual and special meeting held on Nov. 14, 2008.

IE