RidgeWorth [profile] is closing the spigot on its Small Cap Value Equity Fund. The Atlanta firm will shutter the fund to new investors effective April 20, 2012.
"Given recent cash flows into the small cap value discipline, we believe that closing the Fund to new investors is in their best interest and will ensure the integrity of the investment process," stated Jim Stueve, president of RidgeWorth Investments.
Company Press Release
ATLANTA, April 2, 2012 /PRNewswire/ -- On March 30, 2012 RidgeWorth Investments announced that shares of its Small Cap Value Equity Fund (the "Fund"), subadvised by Ceredex Value Advisors LLC will no longer be available for purchase by new investors effective at the close of business on April 20, 2012. Existing shareholders and clients on the effective date will be permitted to continue to make future investments in the Fund. A prospectus supplement with more details about the closing has been filed with the Securities and Exchange Commission ("SEC") and is available atwww.ridgeworth.com.
"We firmly believe in protecting the interests of our shareholders and clients. Given recent cash flows into the small cap value discipline, we believe that closing the Fund to new investors is in their best interest and will ensure the integrity of the investment process," states Jim Stueve, President of RidgeWorth Investments.
The Fund, with approximately $1.38 billion* in assets under management, invests primarily in U.S. companies with market capitalizations of less than $3 billion, and which the fund managers believe are undervalued in the market place at the time of purchase. The Fund's disciplined and methodical bottom-up stock selection with an emphasis on dividends, valuation and fundamentals are cornerstone to its investment process.
About RidgeWorth Investments
RidgeWorth Investments serves as a holding company that owns interests in six investment boutiques with approximately $46.6 billion of assets under management as of December 31, 2011. RidgeWorth's investment boutiques manage a wide variety of investment disciplines across the fixed income and equity management asset classes. Our boutiques provide investment management services to a growing client base that includes endowments, foundations, corporations, healthcare organizations, municipalities, public funds, associations, insurance companies, labor unions and high net worth individuals. In addition, RidgeWorth serves as the investment adviser to the RidgeWorth Funds mutual fund family. RidgeWorth Investments is a trade name for RidgeWorth Capital Management, Inc., an investment adviser registered with the SEC headquartered in Atlanta. For more information about RidgeWorth, visit www.ridgeworth.com.
An investor should consider the fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the RidgeWorth Funds can be found in the fund's prospectus. To obtain a prospectus, please call 1-888-784-3863 or visit www.ridgeworth.com. Please read the prospectus carefully before investing.
*As of March 28, 2012.
Equity securities (stocks) may be more volatile and carry more risk than other forms of investments, including investments in high grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes. Value-based investments are subject to the risk that the broad market may not recognize their intrinsic values. Small capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure. Dividends reflect past performance and there is no guarantee they will continue to be paid. Past performance is not indicative of future results.
®2012 RidgeWorth Investments. RidgeWorth Investments is the trade name for RidgeWorth Capital Management, Inc., an investment advisor registered with the SEC and the adviser to the RidgeWorth Funds. RidgeWorth Funds are distributed by RidgeWorth Distributors LLC, which is not affiliated with the adviser.