Eagle's reorganization of Large Cap Core Fund slated for Jan. 20

By Toni Weeks

San Diego, Dec. 5 - Eagle Series Trust Large Cap Core Fund will reorganize into the Growth & Income Fund on Jan. 20, according to a 497 filing with the Securities and Exchange Commission.

As previously reported, the reorganization was approved by the funds' board of trustees at a joint meeting on Aug. 16. Shareholder approval was not required.

St. Petersburg, Fla.'s Adviser Eagle Asset Management, Inc., which manages both funds, said the reorganization will benefit Large Cap Core and its shareholders because of the lower fees and expenses, strong performance record and stable asset base of the Growth & Income Fund.

Specifically, Growth & Income's net expenses are expected to be 1.18% for class A shares, 1.93% for class C shares, 0.89% for class I shares, 1.43% for class R-3 shares and 0.91% for class R-5 shares. Those fees are 1.39%, 2.16%, 0.96%, 1.66% and 0.96%, respectively, for the same share classes.

No sales load, commission or other fee will be imposed on shareholders in connection with the tax-free exchange of their shares.

The plan provides for the assets and liabilities of the large cap fund to be exchanged for Eagle Growth and Income Fund shares. Shareholders will receive the number of full and fractional shares of each class of the acquiring fund equal in value to the number of shares of each class that they held in the large cap fund.

As a result of the reorganization, the Large Cap Core Fund will not accept purchases or exchanges into the fund as of Dec. 16.

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