Wilmington seeks OK to merge Pennsylvania, Virginia municipal funds

By Toni Weeks

San Diego, June 29 - Wilmington Funds announced that the Wilmington Pennsylvania Municipal Bond Fund and the Wilmington Virginia Municipal Bond Fund will be merged into the Wilmington Municipal Bond Fund.

The two target funds were formerly known as the MTB Pennsylvania Municipal Bond Fund and the MTB Virginia Municipal Bond Fund.

The transaction is subject to shareholder approval at a meeting on Nov. 30.

The board of trustees of each fund determined at a meeting held June 22 that it would be in the best interests of the two funds as well as their shareholders for the funds to merge.

Each fund will be closed to new investors on Sept. 7 but will accept purchases from existing shareholders until the last business day before the merger.

Baltimore-based Wilmington Funds Management Corp., a subsidiary of M&T Bank Corp., is the investment adviser.

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