Short Takes: Bank of Okla. to Manage Own Money Fund

Bank of Oklahoma plans to pull the investment management of its cash management money market fund in-house on May 1.

The fund has been subadvised by AMR Investment Services Inc. of Fort Worth for several years, said Douglas K. Scott, product manager for the 10 American Performance Funds.

Mr. Scott said the Tulsa, Okla.-based bank was happy with AMR's services, but in-house management would allow the bank to offer "a more competitively priced fund."

The bank plans to hire an additional fund manager to handle day-to-day duties, he said.

The American Performance Funds, launched in 1990, have $1.5 billion of assets under management. The bank's investment management division has $5.6 billion of assets under management.

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