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It's too bad because I've owned this fund for more than 5 years and this will make me find an alternative. I wish the Vulcan Value guys would open their small cap fund for a short time so I could make that trade.
Almost $6 billion in this small cap fund, which stopped me from adding to it years ago, but this is a good opportunity to see how connected the assets are to the manager. I might be willing to leave a little money in the fund and give the new guy a chance if the outflows are big enough but I'm guessing a lot of people will hope Derek Jannsen can deliver as much as Chuck Myers did but I'm not as willing to make that bet with the large asset base. I'm headed for MSCFX and TDVFX and happy they're closed or closing with much smaller AUM.
Comments
http://www.morningstar.com/funds/XNAS/NEFJX/quote.html
Skeet
http://news.morningstar.com/articlenet/article.aspx?id=793340
Regards,
Ted