Stilwell Financial subsidiary Berger Funds of Denver said today that it plans to merge two of its growth funds into other products because of poor performance and increasingly timid investors.
The firm will merge its Berger New Generation Fund into the Berger Mid Cap Growth Fund. It will also merge its Berger Select Fund into the Berger Growth Fund. As a result of the mergers, portfolio manager Mark Sunderhuse, who managed the New Generation and Mid Cap growth funds, will resign by year-end. The moves are subject to shareholder and trustee approval, the firm said.