The Evergreen Family of Funds, the proprietary fund family of First Union Bank in Charlotte, N.C., plans to ask shareholders to approve the merger of nine of the group's smaller equity and fixed-income funds into larger funds with similar objectives. The proposal, which will be mailed to shareholders by the end of May, was made public in documents the Evergreen Funds filed with the SEC earlier this month. Shareholders will vote at a meeting in mid-July.

No portfolio managers will lose their jobs as a result of the expected consolidations because the portfolio managers already manage other funds, said Chad Peterson, spokesperson for the Evergreen Funds. After the merger, which if approved is expected to be completed by July 21, the Evergreen Fund group will consist of 102 funds. Evergreen currently manages $84 billion in its fund group, making it the 20th largest fund family, according to FRC in Boston.

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