Deutsche Bank AG said it will combine the no-load mutual funds of Bankers Trust with similar funds from Morgan Grenfell into a $35 billion-asset fund family bearing the Deutsche name.
The consolidation is set for early next year. Deutsche Bank bought Bankers Trust in June; the deal brought Deutsche the $32 billion-asset BT Funds. The German banking company bought Morgan Grenfell, with $3 billion of fund assets, in 1990.
The 45 funds are to be sold through registered investment advisers, financial planners, and bank trust departments, said Ross Youngman, managing director and head of the mutual fund division at Deutsche Asset Management.
"We want to proceed with a strategy that focuses on the Deutsche name," Mr. Youngman said.