Orbitex Group of Funds plans to sell all of its assets to Saratoga Capital Management in return for a 50% interest in a new company known as Orbitex-Saratoga Asset Management, according to a statement filed with the Securities and Exchange Commission on Oct. 3.

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."

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