The day before it officially closed two funds to new investors, Leuthold Weeden Capital Management filed a post-effective amendment detailing plans for two new funds with similar objectives.

The Leuthold Asset Allocation Fund will be managed like the existing Leuthold Core Investment Fund. The filing describes both as "flexible," allocating investments among equities, bonds, and money market instruments. Meanwhile, the Leuthold Select Equities Fund will follow the pattern of the Leuthold Select Industries Fund, seeking capital appreciation through investments in large-cap companies deemed likely to outperform the market.

In a prospectus supplement dated March 8, Leuthold announced its intention to close the two older funds as of March 31, apparently because each had reached capacity from substantial inflows of cash. The company looks eager to repeat such successes by launching the clone funds.

 

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