The merger will double the size of Orbitex and broaden its range of product offerings, the statement said. In addition, Orbitex said that the larger complex "should appeal to a broader class of institutional and retail investors." And, in selling the idea to shareholders, who must approve the proposal, Orbitex said the larger firm "should enhance our ability to market the funds, lower overall expenses and increase fund assets."
Saratoga oversees a group of 12 funds, which are known as the Saratoga Funds.
Officials at Orbitex could not be reached for further details.
