Stilwell Plans to Change 9 Berger Fund Managers
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Stilwell Financial Inc. said it expects nine of 13 Berger Funds to change portfolio managers after the company consolidates its investment advisory business under the Janus brand late this year.
The biggest of the nine funds is Berger Growth Fund, which has $506 million in assets, said Berger spokeswoman Elizabeth Stout in Denver. The funds’ trustees have begun discussing options for a new advisor. Once the trustees pick an advisor, they will put it to a vote by fund shareholders, Stilwell spokeswoman Peggy Landon said.
Stilwell is folding the funds’ current advisor, Berger Financial, and Stilwell’s other investment advisory units into the new Janus Capital Management Inc. on Dec. 31.
Some Berger growth funds may be merged into similar Janus funds, said Mark Whiston, who will head the new Janus. But he said the decision is up to Berger trustees.
The nine Berger funds expected to change managers are Berger Growth, Berger Large Cap Growth, Berger Mid Cap Growth, Berger Small Company Growth, Berger Balanced, Berger International, Berger International Core, Berger International Equity and Berger Information Technology.
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