PineBridge Investments is getting out of the mutual fund business.
According to a Securities and Exchange Commission filing, two former PineBridge Funds: PineBridge US Micro Cap Growth Fund and PineBridge US Small Cap Growth Fund, is being merged into the Jacob Funds family of mutual funds. A shareholder meeting has been scheduled for October 26 to vote on the merger.
The mergers were prompted by a decision by PineBridge to discontinue its U.S. mutual fund operations. Effective July 9, Jacob Asset Management of New York began managing the PineBridge funds under an interim advisory agreement.