Pending board approval, Berger Financial Group will liquidate its IPT New Generation Fund, the company recently disclosed in a regulatory filing.
The fund is scheduled for liquidation May 1 and its manager, Mark Sunderhuse, has been replaced by Berger CIO, Jay Tracey and Manager Paul LaRocco, the company said.
The aggressive growth fund, which was launched in 1996, has $2 million in assets under management, a company spokeswoman said.
The retail shares of the New Generation Fund currently hold $145 million in assets under management, she said. Those assets will be merged with the Berger Mid Cap Growth fund, she said.