] plans to close its Wells Fargo Advantage Growth Fund
to new investors on January 31, 2012. News of the soft close was picked up by Morningstar's Fund Times
The fund's AUM ballooned from $2.9 billion at the beginning of this year to $7.2 billion.
"The fund's closing was likely necessary to maintain the team's execution, particularly with small caps, which have lower liquidity," wrote Morningstar analysts.
, Bruce Olson
and Joe Eberhardy
are running the Advantage Growth Fund
. Another fund managed by the team, Wells Fargo Advantage Emerging Growth
, closed to new investors in the second quarter of this year.
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