As of the end of last year, the firm had reduced the number of long-term retail funds it offers from 119 to 87, resulting in a reduction in expenses that has been passed along to shareholders, the company said. With the most recent mergers, the company now offers a total of 79 long-term funds.
“The completion of these mergers marks another step toward our goal of creating a simplified lineup of mutual funds and achieving expense savings for our fund shareholders,” said Columbia Management President Keith Banks.
