The Scudder Funds' investment advisor, Deutsche Investment Management Americas, is asking shareholders to approve a host of changes among the funds, most notably renaming the funds DWS Funds, The Wall Street Journal reports, citing SEC filings. DWS is the brand Deutsche uses for its funds in Europe.
Along with the name change, Scudder also is proposing a new fee structure, new advisory contracts, consolidation of the board and for some funds to be merged.
Although the funds have performed well, analysts said, mergers and liquidations among the funds over the past few years have made them difficult to sell. "The Scudder brand hasn't worked out particularly well for them," commented Morningstar Analyst Greg Carlson.