Money Management Executive
Thrivent Merges Fund Families
July 23, 2004, 1:00 a.m. EDT 1 Min Read
Thrivent Investment Management has merged its fund families, creating the Thrivent Mutual Funds. Thrivent was created when the Aid Association for Lutherans and Lutheran Brotherhood merged in 2002.
Those organizations mutual funds and variable insurance trusts have now been merged, reducing the total number of funds from 28 to 20. The company has also appointed new sub-advisors to several of the funds.
"This new fund family combines the already solid history of both predecessor funds and offers our members a robust menu of options," said Bruce Nicholson, president and CEO of Thrivent Financial for Lutherans. "We had some duplication of funds previously, but now we have a lineup that meets the needs of our members and provides streamlined governance and oversight of funds that leverage the Thrivent Financial brand."
As part of the change, Thrivent has appointed sub-advisors to four of the funds. T. Rowe Price and Mercator Asset Management now sub-advise the Thrivent Partner International Stock Fund and Thrivent Partner International Stock Portfolio, which had previously been sub-advised by Oechsle International Advisors since 1998, according to Morningstar. T. Rowe Price sub-advises the Thrivent Partner Small-Cap Value Fund and Thrivent Partner Small-Cap Value Portfolio.
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