The Wasatch Core Growth fund recently had $1.32 billion of assets, the Small Cap Growth fund had $1.02 billion, and both the Micro Cap and the Ultra Growth funds had $459 million apiece.
The closure was due to the firms "desire to protect the interests of existing shareholders and prevent asset size from becoming a hindrance to performance," Sam Stewart, Wasatch chairman, told Reuters. The four Wasatch funds invest in small cap stocks, a smaller universe than mid-cap and large-cap stocks. As such, it is harder for such funds to handle excessive inflows and still deliver strong returns.
