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Keep Your Money, These Funds Don't Want It
Have your clients tried to invest more money into a mutual fund they own, only to be rebuffed? Sometimes, funds may close their doors to new investors (as we highlighted last week) and sometimes they close their doors to all new money, even from current shareholders. A fund may do so in situations when growing too large can be detrimental, especially in less liquid markets. Being too big can also make it difficult to accomplish their objectives.

For this list, we considered all mutual funds that closed in the past three years, and then ranked them by three-year annualized returns. Only funds with at least $100 million in assets were considered. All data from Morningstar.