GE Asset Management (GEAM) has appointed Highland Funds Asset Management as its new investment adviser for the GE Funds. GE will continue to select the stock and bonds for 16 GE Funds family mutual funds, while Highland will be responsible for the rest, adds Reuters.
The GE Funds family consists of 16 mutual funds, 12 of which are active, for individual investors with around $1.2 billion in total assets. The GE Funds Board of Trustees had approved the proposal in September last year and it received the approval from shareholders in December.
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