closed the n/i numeric Micro Cap
fund to new investors yesterday, although existing investors can continue to make deposits.
The fund's assets stood at $131 million as of April 10, and officials with numeric feel that increasing the size of assets will hurt the fund's performance. "I like the relative ease we have at the current asset level to complete trades," said Shannon Vanderhooft
, manager of the fund.
, director of mutual fund marketing, said, "We've done a substantial amount of research on the relationship between transaction costs and the amount of assets in a fund. You can actually pick the optimum point in that relationship, and we're there right now."
Stay ahead of the news ... Sign up for our email alerts now