Citizens Advisers is in "serious negotiations to acquire the assets of Meyers Pride Value Fund, a socially responsible mutual fund used by institutional investors, said John Shields, Citizens CEO.
Pending shareholder approvals, the transaction is expected to be completed in September, Mr. Shields said. The fund will be renamed the Citizens Value Fund. Shelly Meyers, founder of Meyers Capital Management, would continue to manage the fund, which will be Citizens first value fund.
Meyers Pride invests in firms that have progressive workplace policies toward homosexuals. Mr. Shields said Citizens will incorporate the Meyers screens into the broader Citizens socially responsible screens.