The bidding for Great Western Financial Corp.'s mutual fund complex is winding down, and four companies have emerged as finalists.

One of the final bidders is Hartford, Conn.-based Phoenix Duff & Phelps, sources close to the negotiations confirmed; a spokeswoman at Phoenix Duff & Phelps declined to comment. The company was formed last November when Duff & Phelps, a credit rating firm, merged with the Phoenix Funds.

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