Buffalo Funds just partially shuttered its Buffalo Small Cap Fund. The $2.44 billion fund (as of 10/23/2009) closed to new individual investors on October 5th, yet it will remain open to additional investments by all current shareholders, as well as new and additional investments made through employer sponsored retirement plans.

The fund is advised by Kornitzer Capital Management, which decided to partially close the fund "to ensure the fund can be effectively managed to its objective of long-term growth of capital through the purchase of companies with market capitalizations of $2 billion or less at time of purchase." 

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