Shareholders of the Perritt Microcap Opportunities Fund
now have another reason to remember December 7. Officials at Perritt Funds said they plan to limit the flow of fresh investments to the fund by closing it to new shareholders on that date.
Officials at the fund firm said that they are closing the fund because it has become "increasingly difficult with the continuing growth of new assets" to serve shareholders’ best interests within the advisor's philosophy and guidelines.
"In order to protect our current shareholders and the portfolio team’s ability to manage the fund successfully, we have decided to close the fund to most new investors," Perritt said in a statement.
Perritt's second fund, the Perritt Emerging Opportunities Fund
, will continue to offer shares to all investors.
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