Loomis to close small-cap value fund

Loomis Sayles & Co. LP of Boston today announced it will close the Loomis Sayles Small Cap Value Fund to new investors, effective Sept. 15. The fund was launched May 13, 1991, and has $1 billion in assets under management. The investment team responsible for the fund manages $2.3 billion in this strategy. The close is being initiated to preserve the investment team’s strategy and to maintain the team’s agility within the small cap universe, according to a Loomis statement. The fund will remain open to existing shareholders. “We have been pleased with investor response to this product and are satisfied with the fund’s growth,” Lauriann Kloppenburg, chief investment officer of equities, said in the statement. “As is typical with small cap funds, we have closely monitored asset growth and believe we are now at a level where it is in the best interest of our shareholders to initiate a close to new investors in order to properly preserve the integrity of the fund.”