RidgeWorth Investments is closing its Small Cap Value Equity Fund, subadvised by Ceredex Value Advisors LLC, to new investors effective April 20.
Existing shareholders will still be allowed to continue investing to make future investments in the Fund. The fund managed some $1.38 billion in assets as of March 28 and invests primarily in undervalued U.S. companies with market capitalizations of less than $3 billion.
"We firmly believe in protecting the interests of our shareholders and clients,” stated Jim Stueve, president of RidgeWorth Investments. “Given recent cash flows into the small cap value discipline, we believe that closing the Fund to new investors is in their best interest and will ensure the integrity of the investment process."