Nations Funds, the mutual fund group managed by Bank of America Capital Management (BACAP), has given its team-managed approach the boot, at least on its two dozen fixed-income funds.

In a Nov. 17 filing with the Securities and Exchange Commission, the group announced that it has already begun transitioning the management of its Nations Funds fixed-income lineup from the collegial team approach to having a single manager preside over each fund. Only three of the 24 funds will remain with more than one manager, and in some cases, a single manager will now have sole responsibility for managing multiple funds.

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