Fifth Third Funds plans to merge some funds into Touchstone, Federated funds, liquidate others

By Toni Weeks

San Diego, April 5 - The board of trustees of Fifth Third Funds announced that on April 4 it approved the reorganizations or liquidations of some of its funds and plans to seek shareholder approval of the changes, according to a 497 filing with the Securities and Exchange Commission.

The board said the changes were proposed by Fifth Third Asset Management, Inc. and Fifth Third Financial Corp., who plan to sell their interest in management of the Fifth Third Funds. In connection with the sale, the two firms proposed to the board that some money market funds be reorganized into existing money market funds managed by Federated Investors, Inc., some stock and bond funds be reorganized into existing and new mutual funds managed by Touchstone Advisors, Inc. and other funds be liquidated.

The board will seek approval from shareholders of record as of July 9 at a meeting on Sept. 5 for the following reorganizations:

• Fifth Third Quality Growth Fund into Touchstone Large Cap Growth Fund;

• Fifth Third Mid Cap Growth Fund into Touchstone Growth Opportunities Fund;

• Fifth Third Disciplined Large Cap Value Fund into Touchstone Value Fund;

• Fifth Third All Cap Value Fund into Touchstone Value Fund;

• Fifth Third High Yield Bond Fund into Touchstone High Yield Fund;

• Fifth Third Short Term Bond Fund into Touchstone Ultra Short Duration Fixed Income Fund;

• Fifth Third Total Return Bond Fund into Touchstone Core Bond Fund;

• Fifth Third LifeModel Aggressive Fund into Touchstone Growth Allocation Fund;

• Fifth Third LifeModel Moderately Aggressive Fund into Touchstone Moderate Growth Allocation Fund;

• Fifth Third LifeModel Moderate Fund into Touchstone Balanced Allocation Fund;

• Fifth Third LifeModel Moderately Conservative Fund into Touchstone Conservative Allocation Fund;

• Fifth Third LifeModel Conservative Fund into Touchstone Conservative Allocation Fund;

• Fifth Third Micro Cap Value Fund into Touchstone Micro Cap Value Fund;

• Fifth Third Small Cap Value Fund into Touchstone Small Company Value Fund;

• Fifth Third International Equity Fund into Touchstone International Value Fund;

• Fifth Third Strategic Income Fund into Touchstone Strategic Income Fund;

• Fifth Third Prime Money Market Fund into Federated Prime Value Obligations Fund;

• Fifth Third Institutional Money Market Fund into Federated Prime Cash Obligations Fund;

• Fifth Third Institutional Government Money Market Fund into Federated Government Obligations Fund; and

• Fifth Third U.S. Treasury Money Market Fund into Federated Treasury Obligations Fund.

At the April 4 meeting, the board also approved the liquidations and dissolutions of the Fifth Third Dividend Growth Fund, Fifth Third Equity Index Fund, Fifth Third Small Cap Growth Fund and Fifth Third Structured Large Cap Plus Fund.

If approved by shareholders at a meeting on July 11, each fund will begin liquidating its portfolio assets, with the liquidation slated to be completed by July 13.

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