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Tuesday, November 30, 1999|
Van Wagoner Closes Its First Funds
Van Wagoner Mutual Funds closed both the Van Wagoner Emerging Growth Fund and Van Wagoner Micro-Cap Fund to new investors on November 15, as asset levels reached $1 billion and $250 million respectively.
"Our goal is to simply be great emerging growth managers," said Scott Worcester, fund specialist, Van Wagoner Funds. "All of our funds will be closed at predetermined asset levels, based on what we feel we can properly manage for our investors, within our small-cap aggressive growth focus."
The two funds have had solid years both performance and marketing-wise, with Emerging Growth, managed by Garrett Van Wagoner, featured in many retail fund publications due to over 200% returns so far in 1999. The Micro-Cap Fund, managed by Raiford Garrabrant, has fared almost as well, returning over 150% in 1999.
*****Van Wagoner has also launched a redesigned website, featuring an email subscription service, branded "E-News" which allows shareholders and prospective shareholders to receive the latest manager commentary on the Van Wagoner Funds, as well as daily NAVs, upcoming conferences and new account features.
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