is closing its small cap value fund to new investments. Effective September 15, only existing shareholders of the fund will able to buy in. Lauriann Kloppenburg
, chief investment officer of equities at Loomis, said that the close is expected to preserve the integrity of the fund. The fund, launched May 13, 1991, currently has $1 billion in AUM.
Company Press Release
BOSTON, MA (July 11, 2008) – Loomis, Sayles & Company, L.P. today announced that it will close the Loomis Sayles Small Cap Value Fund to new investors effective September 15, 2008. The Fund was launched on May 13, 1991 and currently has $1 billion in assets under management (the team manages a total of $2.3 billion in this strategy). The Fund is co-managed by Joseph Gatz and Daniel Thelen, who were both named to the Fund in 2000.
The close has been initiated to preserve the investment team’s strategy and to maintain the team’s agility within the small cap universe. 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,” said Lauriann Kloppenburg, chief investment officer of equities. “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.”
Earlier this year, Loomis Sayles was named the top Equity Fund Family in the large fund family category for performance over the three-year period ending December 31, 2007.
About Loomis Sayles
Since 1926, Loomis, Sayles & Company, L.P. has served the investment needs of institutional and mutual fund clients. This rich tradition has earned Loomis Sayles the trust and respect of clients worldwide, for whom it manages more than $135 billion in equity and fixed income assets, as of May 31, 2008.
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