Delaware Investments of Philadelphia announced today that it plans to cut 14 funds from its lineup through fund mergers and liquidations over the next couple of months, bringing the company’s total mutual fund offerings to 49.

The Funds’ Board of Trustees made the decisions in a meeting last week, according to a spokesperson for Delaware. In total, 11 funds are to be merged into funds with similar investment objectives and three funds are to be liquidated, according to the announcement. The mergers are pending shareholder approval.

“In every case, these are funds that never attracted enough assets to achieve any strong economies of scale and that made it difficult for us to manage these Funds to the benefit of our shareholders,” said Karina Istvan, senior vice president of retail product management for Delaware, in a statement.

The funds that will be liquidated are the Delaware Global Equity Fund, Delaware Global Bond Fund, and Delaware International Equity Fund. Shareholders will be asked to approve the merger of the Tax-Free Iowa, Tax- Free Kansas, Tax-Free North Dakota, Tax-Free New Mexico, Tax-Free Wisconsin, Tax-Free New Jersey and the Montana Municipal Bond funds into the Delaware Tax-Free USA Fund; the Delaware U.S. Government Securities Fund into the Delaware American Government Bond Fund; the Delaware Tax-Efficient Equity Fund and the Delaware Blue Chip Fund into the Delaware Devon Fund; and the Delaware Overseas Equity Fund into the Delaware International Equity Fund.

“[Trimming fund rosters is] a trend that is likely to continue [in the industry],” said Istvan. “There are many mutual fund companies that offer too many funds. They are finding, as we did, that they want to focus on doing what they do well, because good performance attracts assets.”

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