Dec. 17, 2002 — State Street Research & Management Inc. has sold its remaining retail international stock mutual fund as part of a move to concentrate on domestic equity products.
The company transferred the State Street Research:International Equity/A (SSIEX) to Quantitative Investment Advisors Inc., which will merge the fund into the Quant Foreign Value Fund/Ordinary (QFVOX), subject to shareholder approval. Bernard Horn, the manager of the Quant fund, began running the State Street Research portfolio this month.
The deal is part of a reorganization of its fund lineup initiated earlier this year, said State Street Research spokeswoman Alyson Riley. “We’re really going to focus in more on the domestic equity market,” she said.
State Street Research recently liquidated its other retail international stock fund, State Street Research:Concentrated Intl/A (SICAX). The managers of both the international funds, Eleanor Marsh and Miren Etcheverry, will leave State Street Research at the end of this month, Riley said, adding she did not know their future plans.