Today the Birmingham Business Journal reported that Regions Financial Corp., which is headquartered in Birmingham, Ala., is selling off its 11 Regions Morgan Keegan (RMK) Select Funds. These funds are currently managed by Regions’ investment arm, Morgan Keegan & Co., based in Memphis. The funds will be sold to Pioneer Investment Managment, Inc., the Journal reports. The deal is pending approval by Regions shareholders, but if approved will remove the financial company from the mutual funds business entirely, according to the Journal. This news follows on the heels of other efforts by Regions to divest itself of investment funds following ... Read More
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