Artisan Funds has closed a mid-cap product to new investors.
The Milwaukee-based firm decided to close the Artisan Mid Cap Fund in an effort to "limit the growth of the funds assets" and preserve its ability to invest "in stocks at the smaller end of the funds market capitalization range," according to a statement.
Several other firms have closed their small- and mid-cap offerings in recent months for similar reasons. Turner Investment Partners closed its Turner Small Cap Value Fund in December. Wasatch Funds closed two small-cap offerings in January. And AIM Advisors plans to close a small-cap growth fund next week.
Current shareholders of Artisans mid-cap product can still purchase shares, the company said.