Quant Funds is losing one of the family. The trustees of the firms' Quant International Equity Fund voted to close and liquidate the fund. The action was taken "as a result of the reduction in assets in the fund," the firm explained in a statement.

Shareholders of the three-year old fund will have the option to exchange into another Quant Fund or redeem their shares. The firm expects that it will hold on to the assets in the fund as it offers a second international fund.

"Most of the current shareholders in the Quant International Equity Fund will most likely seek to remain diversified in a foreign fund, so we feel they will probably exchange into the Quant Foreign Value Fund," said a spokesperson at Quant.

"Closing and liquidating the Quant International Equity Fund should come as no surprise to anyone,"said Fred Marius, president of Quantitative Advisers, investment manager to the Quant Funds, in a statement.

Quant continues to offer five funds, each with retail and institutional share classes.  

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