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Which great mutual fund that's closed, will be opening because of money outflows?


  • Artisan funds perhaps? William Blair?
  • beebee
    edited March 2020

  • Grandeur Peak announced yesterday that almost all of their funds are moving from "hard close" to some variant of "soft open" or "soft close." The translation is, given the (likely) combination of outflows and improving opportunities, the funds will temporarily accept new money from current investors and those willing to invest directly through GP."
  • I'm hoping for Bee's suggestion FSMEX.
  • Where would one find the Grandeur Peak announcement? I don't see it on the website.
  • edited March 2020
    Mark said:

    I'm hoping for Bee's suggestion FSMEX.

    I was bummed when I found it was closed. I wanted to put it in my wife's IRA. I have it in my taxable, and IRA.

  • sfnative said:

    Where would one find the Grandeur Peak announcement? I don't see it on the website.

    It was in an email sent out yesterday from GP to those already investing with them.
  • Artisan funds perhaps? William Blair?

    Artisan will for sure. They are greedy asset gatherers.
  • @WABAC

    The Fine Print

    Although these funds are closed to new investors, if you are an existing investor, you can often still make additional investments and give fund shares to friends and family. Whoever you give a fund share to then becomes an existing investor who can also make additional investments and give away fund shares.

    Giving someone some fund shares that open the door to a closed fund with a great manager can be a perfect gift under the right circumstances.

    If you don’t already own shares in these funds, you’ll need to find someone who does. If you own shares in at least one of these closed funds, you will at least have something to trade

  • Copy of GP email that I received yesterday:

    March 11, 2020

    Dear Fellow Shareholders,

    In light of the COVID-19 outbreak and resultant market turbulence, we are reaching out to share our current plan of action. While we cannot predict the outcome of the current volatility, we do know that market corrections have historically rewarded long-term investors who are able to maintain a steady hand. We recognize the current pain being experienced by market participants, but we strongly believe that our thoughtful, active approach in the face of volatility is what sets us apart. Our research team is using this time to increase communication with our companies, conduct other forms of due diligence and modeling of our companies, comb through our watch lists, and do additional screenings of our investment universe. We are using this environment as an opportunity to meaningfully upgrade the quality of Grandeur Peak portfolios.

    We have been impressed with the confidence that our fellow shareholders have had in us, as demonstrated by very limited redemptions. We share your confidence and have recently invested more of the firm’s balance sheet into the funds. As you may have seen in a press release earlier this week, due to the sell-off, we announced the upcoming launch of the US Stalwarts Fund on March 19. A few of our funds will be moving from hard to soft close, allowing investors the opportunity to buy in this period of market weakness (clients in those specific funds will receive separate communication detailing the changes). Please check for the most current fund status.

    Finally, we are taking the health of our team and business very seriously. As a firm, we have suspended all business travel and are converting scheduled meetings with companies and clients to calls or video conferences. We have asked that any employee who has traveled to a Level 2, 3, or 4 country in the last 14 days to self-quarantine. We are also insisting that any employee who has a fever, flu or cold symptoms, or if any family member has symptoms, that the employee stay at home for the duration of the illness and 24 hours after.

    Every one of our employees is set up to work remotely, and we are very used to doing so. We have a thorough business continuity plan that is continuously evaluated and regularly tested. As a lengthier test, all Grandeur Peak employees will be working from home on March 16 and 17. These days, and those leading up to them, are an opportunity for our team to gain 100% confidence in our ability to work off-site for an extended period of time if necessary.

    Thank you for being an investor in the Grandeur Peak Funds. If you have any questions, do not hesitate to reach out to our team.

    Best Regards,

    Mark Siddoway, CFA, CAIA, MBA

    Todd Matheny, CAIA

    Amy Johnson, MBA, CFP®
  • Thanks for that TheShadow, it was helpful (I don't own my GP fund directly).
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