Morgan Stanley will merge three of its stock funds into other funds, Reuters reports.

The Morgan Stanley Equity fund – which has lost an average of 3.9% over the past five years and ranked in the bottom decile of its category last year – will become part of the Dividend Growth Fund. Morgan Stanley New Discoveries fund, which declined an average of 31% over the past two years, and the Morgan Stanley Next Generation fund, which fell an average 21% over the past three years, will both become part of the Developing Growth fund.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.