Merrill Lynch Asset Management of Princeton, N.J. is reshuffling its international funds lineup to merge out of existence three comparatively small funds.

Merrill Lynch is asking shareholders of its Global Opportunity, Asset Growth and Asset Income funds to approve the merger of those funds into the $7.4 billion Merrill Lynch Global Allocation Fund, according to a preliminary proxy statement the Global Allocation Fund filed with the SEC Jan. 27. The assets of Global Opportunity, Asset Growth and Asset Income are approximately $62 million, $7 million and $10 million, respectively, according to the proxy statement. Shareholders are scheduled to vote on the proposals at a meeting April 26.

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