ISI Funds seeks OK to merge Managed Municipal Fund into Centre fund

By Toni Weeks

San Luis Obispo, Calif., Feb. 17 – The board of ISI Funds has approved a plan of reorganization under which Managed Municipal Fund, Inc. would be reorganized into Centre Active U.S. Tax Exempt Fund, a series of Centre Funds, according to a 497 filing with the Securities and Exchange Commission.

International Strategy & Investments Inc., the investment adviser to ISI Funds, determined that it would be advisable to pursue the reorganization of the ISI Funds with another fund group, the filing said. After considering several fund groups, ISI selected Centre.

Shareholders as of record on Jan. 12 are being asked to approve the merger at a meeting on March 16 or by proxy.

New York-based Centre Asset Management, LLC would be the investment adviser to the Centre Funds.

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