ABN AMRO Asset Management staff recommended to trustees that MFS Institutional Advisors replace Mellon Equity Associates as subadviser of the $115 million ABN AMRO Value Fund. Trustees tentatively approved the change Oct. 24 and will vote at their December meeting, said Stuart Bilton, CEO. A shareholder vote is not required.
Mr. Bilton said the change was made because 'MFS has a great reputation and a good process and performance.' According to SEC filings, the ABN AMRO Group Profit Sharing and Savings Plan owns about 41% of the mutual fund.