Ave Maria Fund, Catholic Equity Fund to Merge

A merger of the Catholic Equity Fund, run by Catholic Financial Services Corp. and the Ave Maria Rising Dividend Fund, run by Schwartz Investment Counsel was announced last week. The deal is expected to close in March.

Both boards have voted to approve the merger subject to Catholic Equity Fund shareholders’ approval and the necessary regulatory approvals.

“The Ave Maria Rising Dividend Fund will be a good home for the Catholic Equity Fund shareholders, and they will have access to our entire family of no-load Catholic mutual funds,” said George Schwartz, president and chief executive officer of Schwartz Investment Counsel.

“All five Ave Maria Mutual Funds and the Ave Maria Money Market Account have different investment objectives, and therefore offer diversification opportunities to Catholic Equity Fund shareholders. Each follows the moral guidelines established by the funds Catholic Advisory Board,” he said.