Liberty Financial of Boston is asking shareholders of its Liberty Newport Global Equity Fund to approve plans to liquidate the fund and merge it with the Liberty Newport Global Utility Fund, according to a preliminary proxy statement filed with the SEC Oct. 12.

Liberty wants to merge the two funds "because it offers shareholders of the Fund an investment in a fund with similar investment goals and the economies of scale of a larger fund including a reduction in the fees and expenses of the Global Equity Fund," the proxy states.

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