Dire prognostications that the slew of new strict and costly regulatory requirements will drive small-fund managers to bail out from the mutual fund business in droves, have not materialized. At least not yet. But new rules have caused advisors to take a fresh look at their fund business.

While several small-fund managers have filed notices with the SEC in recent weeks acknowledging that they will close up and liquidate their funds, the exodus is not as severe as fund industry pundits had predicted.

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