Wasatch to close funds to new investors

The firm's Micro Cap Value Fund and International Opportunities Fund will close to new retail investors June 30.
JUN 17, 2008
Wasatch Advisors Inc. of Salt Lake City yesterday announced that it will close the Wasatch Micro Cap Value Fund (WAMVX) and the Wasatch International Opportunities Fund (WAIOX) to new retail investors June 30. Both funds were recently re-opened to new investors May 1. Since the funds reopened, the assets of the Wasatch micro-cap fund grew 32% to $125 million, and those of the international-opportunities fund grew nearly 9% to $51 million. The reopening of the funds attracted many new investors, and the decision to close is based on asset size, Wasatch said in a statement. “Wasatch errs on the conservative side of closing funds early to protect our shareholders, and this feels like the right time to now close the fund,” Blake Walker, portfolio manager of the international-opportunities fund, said in the statement. John Malooly is the portfolio manager of Micro Cap Value Fund. Both funds will remain open to investments from current shareholders. With these two closings, 11 of the firm’s 14 funds will remain open to investors. The fund family had $4 billion in assets under management as of May 31, according to the firm.

Latest News

Merrill lands four advisor teams as May recruiting data shows firm's two-way churn
Merrill lands four advisor teams as May recruiting data shows firm's two-way churn

Merrill's latest hires span Colorado to Louisiana, even as industry-wide recruiting data suggests the firm is losing almost as many advisors as it gains.

Fund manager sues Kandeo, alleges $100 million FinSocial loss
Fund manager sues Kandeo, alleges $100 million FinSocial loss

The $36 million buy allegedly hid inflated books and a $50 million diversion.

Advisor gets $200,000 from Ameriprise in 'emotional distress' lawsuit
Advisor gets $200,000 from Ameriprise in 'emotional distress' lawsuit

“An award citing emotional distress is very unusual,” an industry executive said.

Workplace financial education linked to stronger financial habits, but participation remains low
Workplace financial education linked to stronger financial habits, but participation remains low

New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.

The rise of the super advisor: How AI is redefining competitive advantage in wealth management
The rise of the super advisor: How AI is redefining competitive advantage in wealth management

Beyond operational excellence, the winning advisors of the future are the ones who can reach across multiple disciplines without discarding specialist skills.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income