HighMark Large Cap Value Fund gets shareholder approval to reorganize

By Toni Weeks

San Diego, March 21 - The board of trustees of HighMark Funds held a shareholders meeting on March 16 to vote on the reorganization of the HighMark Large Cap Value Fund into the HighMark Value Momentum Fund.

The reorganization was approved at the meeting, according to a 497 filing with the Securities and Exchange Commission.

Consequently, on March 26, the Large Cap Value Fund will liquidate after transfering all of its assets and liabilities to the Value Momentum Fund. Shares of the Large Cap Value Fund will no longer be available for purchase, and other series of HighMark Funds may not be exchanged for shares of the Large Cap Value Fund.

In connection with the reorganization, the annual fees and expenses of the Value Momentum Fund will decrease to 1% from 1.02%, with the new percentage applicable until Nov. 30, 2013 due to a new fee waiver and expenses reimbursement agreement.

Previously, the net expenses were to be limited to 1.02% until November 30, 2012.

The fund's investment adviser is San Francisco-based HighMark Capital Management, Inc.

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