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Products January 20, 2011
Wasatch Closes Fund through Third Party Platforms
Wasatch Advisors announced that it intends to close the Wasatch
Small Cap Growth Fund (WAAEX) to new investors through most third party
intermediary platforms as of January 31, 2011.
Reported by PLANADVISER staff
The fund will remain open to existing fund shareholders, and new investors will still be able to purchase fund shares directly from Wasatch Funds.
According to the announcement, financial advisers and retirement plan sponsors with an established position in the Wasatch Small Cap Growth Fund will continue to have access to the fund for both current and future clients. Similarly, retirement plans currently invested in the fund will be able to continue to offer it to both current and future plan participants.
“Wasatch takes product capacity very seriously. We monitor the assets under management in each of our funds carefully and commit to our shareholders that we will close funds before assets rise to a level where they would alter our intended investment strategy for a fund,” said Eric Huefner, Vice President and Director of Mutual Funds, in the announcement.