This move comes as part of MLIM’s attempt to expand its nonproprietary third-party distribution business in the US, offering a full line-up of its retail funds to broker/dealers, wire houses, insurance companies and banks for the first time.
The consolidations, subject to shareholder approval, are expected to take place during the first or second quarter of 2003 and include:
- Merrill Lynch Large Cap Core Fund acquiring the Mercury Large CapS Core Fund
- Merrill Lynch Large Cap Growth Fund acquiring the Mercury Large Cap Growth Fund
- Merrill Lynch Large Cap Value Fund acquiring the Mercury Large Cap Value Fund
- Merrill Lynch Low Duration Fund acquiring the Mercury Low Duration Fund