Turner InvestmentsL.P. has agreed to merge with Turner Investment Holdings LP, an affiliateof Veracen LP.
Turner Investments is the investment adviser to the Turner Funds,a group of mutual funds. A new advisory agreement between Turner Investments andthe Turner Funds was approved and remains subject to shareholder approval.
The Turner Funds'board of trustees also nominated a new slate of trustees for election by its shareholders,according to a July 6 press release.
The merger is expected to be completed by the end of July, PeterHill, a spokesman for Turner Investments, said in a July 7 email.
Following the merger's closing, Turner Investments will continue to manage the TurnerFunds under an interim advisory agreement until the receipt of shareholder approvalof the new advisory agreement.