Touchstone Investments is closing its Touchstone Sands Capital Institutional Growth Fund to new investors. The fund managed some $2.6 billion as of March 8.
According to a regulatory filing, limiting the fund’s size will allow it to “maintain adequate liquidity in positions held within the portfolio and meaningfully participate in targeted investments.” The fund is closed to new investments as of April 8.
The Sands Capital Institutional Growth Fund bets on U.S. companies with above-average potential for revenue and earnings growth. It was launched in January 2005 and is managed by Frank Sands. It has an expense ratio of 79 basis points and is up 7.24% year-to-date through March 8, according to Bloomberg.