Some fund companies close and open funds so much they appear to be revolving doors. Charlie Dreifus' Royce Special Equity Fund reopened to new investors at the end of the day on Monday.

According to a release issued Monday, the fund's re-opening is "due to the potential we [Charlie Dreifus] see for new opportunities in the small- and micro-cap universe now and in the coming months." The fund had $675 million in total assets at the end of March.  

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