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Why did the Funds pay distributions?

April 26, 2017distributions funds pay

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Why did the Funds pay distributions?

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In order to ensure tax-free treatment of the mergers, the Acquired Funds in the mergers needed to distribute substantially all of their realized income and realized gains prior to the mergers. In addition, the Acquiring Funds also distributed substantially all of the realized income prior to the mergers. The Acquired Funds did not have any capital gains to distribute prior to the mergers.