Managers Funds to liquidate, terminate International Equity Fund

By Tali David

Minneapolis, Jan. 17 - The board of trustees of the Managers Funds approved a plan to liquidate and terminate the Managers International Equity Fund, according to a 497 filing with the Securities and Exchange Commission.

On Jan. 18, the fund will begin selling its portfolio investments and will invest the proceeds in cash and cash equivalents in anticipation of the liquidation. As of the same date, the fund will no longer accept new investments, except for investments made through omnibus accounts, via automatic investment programs or by existing asset allocation programs that invest in the fund.

The board said it expects the fund to be terminated on March 9.

The fund's investment manager, Managers Investment Group LLC, is based in Chicago.

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