Walthausen & Co. [profile] is closing its small cap value fund to new investments, the Business Review reports. The fund will close today.

The $559-million Walthausen Small Cap Value fund has a five-star rating from Morningstar and has returned nearly 30 percent in 2012.

Reporter Barbara Pickney of the Business Review spoke with Mark Hodge, chief compliance officer of the Clifton Park, New York-based money manager, who explained the reasons for closing the fund.

“When you have money flowing in you have to either find new names to invest in or be content to invest more in the companies you are already in,” Hodge said. “So the idea now is to look after existing investors and manage the portfolio in a way that will produce the returns they want from us.” 

Edited by: Chris Cumming


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