A Texas asset manager with two mutual funds is preparing to shut down one of those funds next month.

John Brim Smith Group Asset Management President, Senior Portfolio Manager

Dallas-based Smith Asset Management Group confirms via regulatory filing that on March 30 it will liquidate the Smith Group Small Cap Focused Growth Fund. The fund launched at the end of 2013 and has about $587,000 in AUM.

MFWire could not immediately reach Steve Smith for comment on the planned liquidation. Smith is the founder, CEO, and chief investment officer of Smith Group.

"The Adviser has determined that the Fund has limited prospects for meaningful growth," the filing reads.

In preparation for the liquidation, yesterday Smith Group closed the fund to new investments. Steve Smith himself and John Brim, president of the company, PM the fund.

Smith founded Smith Group in 1995. The employee-owned firm had more than $3 billion in AUM as of September 30, 2015. The company also offers the three-star, $45.8-million Smith Group Large Cap Core Growth Fund, which launched in 2007. 

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