Boston-based Loomis Sayles & Co. said this week that it will shut down its Global Technology Fund. As of Feb. 14, the company stopped selling shares in the product and a spokesman said the fund is expected to cease operations at the end of April.
The fund, one of 16 offered by the company, has weathered returns of 47.94% in the past year, according to the companys Web site. It has posted returns of 35.60% since it was launched in January of 2000.
The product has a total of $2.5 million in assets.