The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:This Elite, $7.7B Fund Is Now Closed to Almost Everyone Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 10, 2013

This Elite, $7.7B Fund Is Now Closed to Almost Everyone

Reported by Neil Anderson, Managing Editor

A top growth fund shop is shuttering its popular flagship mutual fund to nearly all new investors.

In a notice to investors, Ruane, Cunniff & Goldfarb [profiole] president Robert Goldfarb and executive vice president David M. Poppe revealed that the five-star, gold-rated Sequoia Fund closed today to new investors, unless existing shareholders or their family members open new accounts.

"This change will make Sequoia consistent with the separately managed portfolios under our management, where we stopped opening accounts for new clients earlier this year," Goldfarb and Poppe wrote. "The objective of this change is to restrict the inflow of funds under our management."
As the funds we manage grow, incremental investments must become larger if they are to generate meaningful returns. We believe there is some truth to the adage 'size is the enemy of performance,' and would like to maintain our ability to make investments in mid-sized companies that can provide meaningful returns to our shareholders.
The shop also revealed the move in an SEC filing. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use