Contrarian shop Dreman Value Management is nixing its lineup of five mutual funds citing a lack of investor interest, increasing operating costs and a tougher regulatory landscape.
According to a
“The Board determined that it was in the best interests of the funds and their shareholders for each fund to cease operations due to the adviser’s conclusion that it is no longer economically viable to continue managing the funds because of increasing regulatory and operating costs borne by the adviser as a result of each Fund’s small asset size,” the filing read.
Dreman reportedly manages some $5 billion in assets after losing some $17 billion during the 2008 crisis. David Dreman founded the firm in 1997.
