A press release from DB Advisors says, "Deutsche Bank's Asset Management business today welcomed a proposal by Henderson Global Investors to merge the L3.3 billion Henderson Liquid Assets Fund (HLAF) into the money market fund range of DB Advisors. DB Advisors is Deutsche Bank's global institutional asset management business. Under the proposal made by Henderson to HLAF shareholders, HLAF will be fully merged with the Deutsche Managed Sterling Fund, part of the Deutsche Global Liquidity Series of money market funds. Both HLAF and the Deutsche Managed Sterling Fund are AAA-rated, GBP-denominated, treasury-style money market funds. The proposal will be voted on by HLAF shareholders in January 2011. If approved, HLAF will be merged into the Deutsche Managed Sterling Fund in February 2011, subject to final regulatory consent. DB Advisors already serves as the investment manager of HLAF. Henderson appointed DB Advisors to manage the fund on a sub-advisory basis on October 12, 2010." Mark Bolton, CEO of DB Advisors UK, says, "We would be delighted to extend our relationship with investors in HLAF and welcome them as direct clients.... They will be joining a platform with deep resources, a robust credit process and a strong commitment to transparency." In other news, see ICI's "Money Market Mutual Fund Assets", which says, "Total money market mutual fund assets increased by $25.27 billion to $2.836 trillion for the week ended Wednesday, December 8, the Investment Company Institute reported today. Taxable government funds increased by $17.18 billion, taxable non-government funds increased by $8.01 billion, and tax-exempt funds increased by $76 million."
