Two Rhode Island bond funds complete merger
5:56 PM Wed, Oct 22, 2008 | Permalink
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Two local municipal bond mutual funds have completed their merger. The Narragansett Insured Tax-Free Income Fund absorbed the Ocean State Tax-Exempt Fund as of the close of business on Friday. As a result, the Narragansett fund now has combined assets of about $180 million and is the leading municipal bond mutual fund in Rhode Island. As of Oct. 17, each shareholder of Ocean State became a shareholder of the Narragansett fund. 
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