MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, December 6, 2001 Wasatch to Add Shorts Wasacht Funds setting the stage for their equity funds to exploit the liberalized rules covering short sales by funds. The firm has asked shareholders to approve short sales in five of its six equity funds. The changes would apply to the Wasatch Ultra Growth Fund, Wasatch Small Cap, Growth Fund, Wasatch Core Growth Fund, Wasatch Small Cap Value Fund, and Wasatch Micro Cap Fund. Shareholders will vote on the matter at the firm's annual meeting next Monday, December 10. The Wasatch Global Technology Fund and the Wasatch-Hoisington U.S. Treasury Fund are not covered by the amendment. The request was made to bring all of the funds under the same set of rules, according to a proxy statement filed with the SEC this week. In the likely event that the amendment is approved by shareholders, the investment strategies of the funds is unlikely to change greatly. The funds would be limited to short sales accounting for no more than 15 percent of the funds assets. To date, few funds have widely used short-selling as a strategy both because of the bull market and legal restrictions. As both of these circumstances have changed, making sure that the fund prospectus authorizes this strategy has become more important. Printed from: MFWire.com/story.asp?s=27238 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |