TITLE

Prudential Plans to Fold Single-State Funds Into Larger Fund

AUTHOR(S)
Fine, Jacob
PUB. DATE
July 2006
SOURCE
Bond Buyer;7/19/2006, Vol. 357 Issue 32426, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the plan of Prudential Investments LLC to close most of its single-state municipal bond mutual funds into other offerings in the U.S. The plan calls for the acquisition of the firm's smaller funds in Florida, New Jersey, New York and Pennsylvania by Prudential's Dryden National Municipals Fund. In its filing with the Securities and Exchange Commission, the company stated that the loss of state and local tax benefits as a result of the mergers could affect shareholders.
ACCESSION #
21691415

 

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