Turner Investment Partners of Berwyn, Pa. said today that it will close its Small Cap Value fund to new investors on Dec. 28 in order to allow the fund to maintain its ability to invest in small companies.
Turner had planned to close the fund, which is sub-advised by Clover Capital Management, once it reached between $300 million to $350 million in assets, said Stephen Kneely, Turner Investment Partners president.
The fund will remain open to existing retail and institutional shareholders. The fund currently has $295 million in assets under management, according to Morningstar.
Turner Investment Partners has approximately $9 billion in assets under management, the company said.