The Alleghany Funds will be renamed using the ABN AMRO brand name, according to a spokeswoman for Alleghany Asset Management. Last October, ABN AMRO Holdings of Amsterdam announced that it had reached an agreement to acquire Alleghany for $825 million (MFMN 10/23/00).
The transaction was completed in February, and the Alleghany funds will adopt the ABN AMRO name this month, the spokeswoman said. Currently, there are 15 Alleghany funds with $3.8 billion in assets under management. ABN AMRO has 13 funds.
The merging of the fund families will lead to some duplication of funds, the spokeswoman said. The fact that only three funds will need to be merged is one of the reasons that ABN AMRO decided that Alleghany would be a good compliment to its existing funds, she said. The mergers of those three funds will occur in the near future, according to the spokeswoman.
Renaming the Alleghany funds under the ABN AMRO name was planned from the beginning, the spokeswoman said. ABN AMROs worldwide recognition and desire to offer one complete line of products are reasons for the name change, she said.