CDC Nvest Funds, a wholly owned subsidiary of CDC IXIS Asset Management North America, is shuttering its subsidiary, Kobrick Funds, and will liquidate three funds and replace it as a sub-advisor to the Nvest Star Advisers Fund, CDC Nvest Funds announced yesterday.

An inability to attract assets and volatility in the growth sector - the investment style of all three Kobrick funds -- was cited by the company as the primary reasons for closing the business.

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