William Blair & Company has turned off the spigot on the William Blair International Growth Fund and Institutional International Growth Fund, effective June 30.
According Michelle Seitz, CFA, head of Investment Management at William Blair, the portfolio management team for the International Growth strategy now manages some $12.4 billion, of which the International Growth and Institutional International Growth Funds represent almost $4.8 billion.
"We believe that closing the International Growth strategy is in the best interest of clients," stated Seitz.
"The International Growth strategy invests in foreign companies of all sizes, including a substantial allocation to small cap and emerging markets stocks. This decision is consistent with our philosophy of controlling asset growth to maintain the integrity of the investment process and performance of our strategies."