Bank of America Corp.'s asset management arm announced plans Thursday to consolidate 12 open-end retail funds and one variable series fund into similar portfolios and to liquidate two other funds as part of its integration of the assets under management it acquired last year with FleetBoston Financial Corp.
Columbia Management had previously disclosed plans to consolidate four funds this March; it liquidated two portfolios this month and five in December. Its product line has 114 retail open-end mutual funds, excluding money market funds, in the Columbia Funds and Nations Funds complexes.
Columbia Management is based in Boston and is a part of the parent banking company's wealth and investment management division. It had about $330 billion of assets under management at Dec. 31.
