Word: merger
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...have experienced a merger, you need to take a close look at what's being done with your money. In some cases, merging is a way for fund companies to make poor-performing funds disappear. It creates what Vanguard founder Jack Bogle, a critic of the practice, calls "survivorship bias": lousy funds are killed so that a fund company's average rate of return rises. Survivorship bias may not have been the goal but was certainly the result in July when Columbia Management Group's Galaxy II Utility fund, with a three-year return of 3.7%, was merged into...
...your funds is about to be merged, you will typically get at least a month's notice and a voting-proxy statement. (Laws in the state where a fund is chartered determine what a vote outcome must be for a merger to take place.) "You may decide you don't want someone else picking your fund for you," says Russ Kinnel, research director at the fund-tracking firm Morningstar. But don't bail out of a fund before considering the following...
...meeting was, however, expected to be tense because of recent tumult concerning D’Alessandro’s controversial merger plans for the district’s 15 elementary schools to combat declining enrollment and a $3.6 million budget deficit...
...have been waiting to see a proposal that seriously takes on the request for a consolidation proposal,” said committee member Alan C. Price, who recently proposed and withdrew his own merger plan. “The superintendent has assured me that one would be coming soon and I still haven’t seen...
...final vote to extend the merger timeline and the committee’s pledge to focus on school input relieved committee members...