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Rating:Wells Fargo to Soft Close a $7 Billion Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 16, 2011

Wells Fargo to Soft Close a $7 Billion Fund

News summary by MFWire's editors

Wells Fargo [profile] plans to close its Wells Fargo Advantage Growth Fund to new investors on January 31, 2012. News of the soft close was picked up by Morningstar's Fund Times column.

The fund's AUM ballooned from $2.9 billion at the beginning of this year to $7.2 billion.

"The fund's closing was likely necessary to maintain the team's execution, particularly with small caps, which have lower liquidity," wrote Morningstar analysts.

Tom Ognar, Bruce Olson and Joe Eberhardy are running the Advantage Growth Fund. Another fund managed by the team, Wells Fargo Advantage Emerging Growth, closed to new investors in the second quarter of this year. 

Edited by: HFD

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