Fund managers may not be bailing out of the mutual fund industry in droves. But at least two investment firms have decided in recent weeks to exit the open-end fund business altogether, choosing to refocus their investment management efforts in what they consider are their true areas of expertise.

Both Clemente Capital of New York and Rightime Econometrics of Rydal, Pa., have quietly opted out of managing mutual funds.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.