Integrity Mutual Funds said it has agreed to acquire the management rights to the Maine and New Hampshire Tax Save Bond Funds from the Forum Financial Group of Portland, Maine.

The two funds have combined assets of about $50 million. The deal, which needs shareholder approval, is expected to close in September. The fund portfolios will be managed by Monte Avery.

"Obtaining the management rights to the Maine and New Hampshire municipal bond funds, along with our recent acquisition of the two Canandaigua National Bank Funds in upstate New York and the pending acquisition of the four Willamette Funds in Oregon have transformed us from a regional firm in the upper Midwest to more of a national firm with the ability to offer our shareholders and other investors a much broader, diversified family of funds," said Robert Walstad, chairman and CEO of Integrity.

Forum said the move allows the firm to fully focus on its core business of providing comprehensive investment fund services from its operations centers in Maine, Bermuda and Poland.

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