HighMark to reorganize its municipal funds into Nationwide funds

By Toni Weeks

San Luis Obispo, Calif., April 3 - The board of trustees of HighMark Funds approved on March 29 the reorganizations of several series of funds.

According to a 497 filing with the Securities and Exchange Commission,

• The HighMark California Intermediate Tax-Free Bond Fund will be acquired by the Nationwide HighMark California Intermediate Tax Free Bond Fund;

• The HighMark National Intermediate Tax-Free Bond Fund will be acquired by the Nationwide HighMark National Intermediate Tax Free Bond Fund; and

• The HighMark Wisconsin Tax-Exempt Fund will be acquired by the Nationwide Ziegler Wisconsin Tax Exempt Fund.

Subject to shareholder approval at meetings to be held in August, the reorganizations are expected to be completed during the third quarter of 2013. Additional information will be mailed to shareholders in June or July.

The reorganizations, if approved, are expected to be tax-free events to each acquired fund and its shareholders.

HighMark also intends to reorganize other of its fixed-income and equity funds in a similar manner.

San Francisco-based HighMark Capital Management, Inc. is the investment adviser to the funds that will be acquired. Nationwide Fund Advisors is the investment adviser to the acquiring funds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.