(by Dr. Goldfinger)

Two mutual funds, J.P. Morgan Funds and One Group Mutual Funds have an option to merge into one fund complex.

New company will be called J.P. Morgan Funds and will have about $211 billion in assets, becoming a world fourth-largest fund family.

“We really have two mutual fund complexes that are actively seeking the same marketplaces. The benefits of being one are so overriding,” said Robert Young, a coo of J.P. Morgan Funds.

The president of new fund family has been already named: George Gatch, ceo of the U.S. mutual fund businesses of J.P. Morgan Fleming Asset Management and Banc One Investment Advisors.