The board of directors for North Track Funds approved a plan yesterday to merge the assets of its Achievers Fund into the firm’s S&P 100 Plus Fund, according to a filing with the Securities and Exchange Commission.

The North Track Achievers Fund, a large cap growth fund, has posted a year-to-date return of -27.45% and has received a two star-rating from Morningstar. The fund currently holds $24 million in assets, according to Morningstar. The S&P 100 Plus Fund’s year-to-date return is stronger, at -15.6%, and it has more assets with $171 million under management, according to Morningstar.

The plan, which is subject to shareholder approval, would give Achievers Fund shareholders shares of the S&P 100 Plus Fund. The number of shares each investor gets will be equal to the aggregate value of the Achievers Fund assets that are transferred, according to the filing.

Shareholders are expected to consider the proposal at a special meeting in April of next year.

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