MD Funds Management Inc., the manager of the MD Family of mutual funds, today announced a number of proposed changes to its U.S. funds. The changes are subject to applicable unitholder and regulatory approvals.
The proposed changes, which are subject to unitholder and regulatory approval, will enhance the investment potential of the MD Funds and streamline MD’s U.S. mutual fund lineup.
The investment objectives of MD US Large Cap Growth Fund will be changed to the following:
– The fund’s investment objective is to achieve long-term capital growth, with income production as a secondary consideration;
– The fund invests in a diversified portfolio of primarily U.S. equity securities of large, mid and small cap companies.
Following the changes to its investment objectives fund will remove the large-cap investment restriction and employ a multi-capitalization investment strategy with a growth style of investing.
The investment objectives of MD US Large Cap Value Fund will be changed to the following:
– The fund’s objectives are long-term capital growth with due regard for the conservation of capital, with income production as a secondary objective.
– The fund invests in a diversified portfolio of primarily U.S. equity securities of large, mid and small cap companies.
This investment objective change will remove the large-cap investment restriction and allow the fund to also invest in small- and mid-sized capitalized companies. Lord Abbett & Co., LLC will remain as Investment Advisor.
MD US Small Cap Growth Fund will merge into MD US Large Cap Growth Fund such that unitholders of MD US Small Cap Growth Fund will become unitholders MD US Large Cap Growth Fund.
If approved the proposed mergers and investment objectives changes will take effect after the close of business on or about September 21.
The following fund name changes will be made concurrent with the changes to the investment objectives described above:
– MD US Large Cap Growth Fund will be renamed MD American Growth Fund.
– MD US Large Cap Value Fund will be renamed MD American Value Fund.
Subject to the approval of the changes to MD US Large Cap Growth Fund’s investment objectives and the negotiation and execution of investment management agreements, it is anticipated that the following investment advisors will be retained to advise MD US Large Cap Growth Fund:
– Goldman Sachs Asset Management, L.P. will advise the fund primarily in respect of large capitalization growth securities.
– New Amsterdam Partners, LLC will advise the fund primarily in respect of large capitalization growth securities.
– Calamos Advisors, LLC will advise the fund primarily in respect of growth securities with a broad range of market capitalizations.
– Westfield Capital Management Company LLC will advise the fund primarily in respect of small capitalization growth securities.
While it is currently anticipated that the noted investment advisors will be retained, MD Funds Management reserves the right to retain different advisors who may employ different investment strategies consistent with the revised investment objectives of MD US Large Cap Growth Fund. The changes to MD US Large Cap Growth Fund’s investment objectives are not contingent upon the noted Investment Advisors being retained.
MD Funds announces changes to U.S. funds
- By: IE Staff
- June 28, 2007 June 28, 2007
- 15:50