Leuthold Weeden Capital Management
is moving to restrict the flow of fresh money into two of its funds. The Minneapolis-based firm will close the Leuthold Core Investment Fund
and the Leuthold Select Industries Fund
to current shareholders and new investors on March 31, according to a
However, participants in retirement plans in which shares of the funds have been designated as investment options can still pour money into the funds.
Leuthold's move isn't surprising, wrote Morningstar analyst Dieter Owen Bardy, who pointed to past interviews with manager Steve Leuthold which indicated that the Core Investment Fund
, which invests in stocks, bonds and cash, is about to reach its capacity.
"And Select Industries
is essentially a long-only and stock-only version of Core Investment, so it was probably close to its limit as well," Bardy wrote in the
column last week.
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