IDEX is seeking shareholder approval to liquidate its GE U.S. Equity Fund and merge the assets with the larger IDEX American Century Income & Growth Fund, according to the filing.
IDEX has also replaced GE as the sub-advisor to its IDEX GE International Equity Fund, handing the funds advisory duties to American Century, said Dave Bullock, CEO of
Bullock would not specify why IDEX replaced GE, but said that the firm considers "performance, marketability, ability to garner assets and investment style," when it hires or replaces a sub-advisor. "GE is a good company and we had a good relationship over the years, but when we took those factors into consideration, American Century was a better fit," he said.
The IDEX GE U.S. Equity Fund held $7.3 million as of Jan. 14 and the American Century Income & Growth Fund held $22.9 million, according to the filing.
