TCW [see profile] is
shutting new investors out of one its equity funds. Yesterday the Los
Angeles-based mutual fund firm revealed that the $1 billion TCW Small Cap
Growth Fund will close to new investors (but not to existing shareholders or
401(k) participants) on April 30.
"We took this action in response to the TCW Small Cap Growth Fund's
significant asset growth," explained TCW Funds president and CEO Charles
Baldiswieler. "Our goal is to protect our ability to provide superior
performance to our clients."
Company Press Release
LOS ANGELES, CA -- 02/17/11 -- The TCW Group (TCW), an international
asset-management firm, today announced that the TCW Small Cap Growth
Fund (TGSCX/TGSNX) will close to new investors effective April 30, 2011. The
closure is consistent with TCW's commitment to investors in the fund and is
intended to limit the size of the Fund to ensure that it can continue to be
managed effectively for existing shareholders.
The closure of the $1 billion TCW Small Cap Growth Fund applies to new
investors that purchase the fund directly or through financial advisors. Existing
individual shareholders and 401(k) participants can continue to purchase new
shares of the Fund.
"We took this action in response to the TCW Small Cap Growth Fund's
significant asset growth," said Charles Baldiswieler, President and CEO of TCW
Funds, Inc. "Our goal is to protect our ability to provide superior performance
to our clients."
Investors seeking similar exposure to small cap growth stocks can continue to
invest in the TCW SMID Cap Growth Fund (TGSDX/TGMDX), which is managed
by TCW Small Cap Growth Fund manager Husam Nazer. The TCW Growth
Equities Fund (TGGEX/TGGIX) managed by Brendt Stallings, who along with Mr.
Nazer leads TCW's Small and Mid Cap Growth team, meanwhile provides
exposure to mid cap growth stocks.
You can read more about TCW's approach to small and mid-cap growth
investing here : .
For more information on the TCW Small Cap Growth Fund, please visit
www.tcw.com : . If you have additional questions about the closure of the Fund,
call TCW at 800-386-3829.
About TCW Funds
TCW Funds, Inc. is an open-end investment company, consisting of 22 separate
mutual funds sold primarily to individual investors and retirement plans.
About TCW
Founded in 1971, The TCW Group, Inc., develops and manages a broad range
of innovative, value-added investment products that strive to enhance and
protect clients' wealth. The firm has approximately $115 billion in assets under
management. TCW clients include many of the largest corporate and public
pension plans, financial institutions, endowments and foundations in the U.S.,
as well as a substantial number of foreign investors and high net worth
individuals. TCW is a subsidiary of Société Générale. For more information,
please refer to www.tcw.com : .
Obtain a Prospectus
You should consider the investment objectives, risks, charges, and expenses of
the Fund carefully before investing. The Fund's prospectus and summary
prospectus contains this and other information about the Fund. You may
download the prospectus from the Fund's website at tcw.com. Please read the
prospectus carefully before you invest or send money.
The TCW Funds are distributed by TCW Funds Distributors.
A Word About Risk
Stock Funds have the same equity and price volatility risks associated with the
underlying stocks in the portfolio, all of which could reduce the Funds' value.
Funds investing in mid and small cap companies involve special risks including
higher volatility and lower liquidity. As stock prices fluctuate, the value of the
Funds can decline and an investor can lose principal.
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