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Thursday, May 27, 2010|
Wasatch Partially Shutters a Fund
Wasatch Funds is partly closing its Wasatch Micro Cap Value Fund to new investors. As of yesterday, the fund manager has restricted inflows through third party distribution channels. The fund will still be sold to new investors through advisors and will remain open to current shareholders and retirement plans that have already invested in the fund.
“The current asset level of the Micro Cap Value Fund is well below a critical investment pinch point, but we are choosing to reduce inflows into the Fund in order to allow current and direct shareholders continued access to the fund and to preserve capacity for potential performance-related growth in the future,” stated Eric Huefner, vice president and director of mutual funds.
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