Friess Associates is saying no to new subadvisory relationships for its small-to-mid-cap products. The advisor to the Brandywine Funds said that it is making the move to retain the capacity to continue growing the assets of what it calls its existing smid-cap clients.

The firm will continue to sell shares of all the Brandywine Funds to new investors. That decision will leave the fund available to potential clients who would like to tap into the firm's "smid-cap" capabilities.

The firm made a similar move at the end of 2004 when it stopped offering the services of its small cap team to new clients.

"Growing the assets of existing clients is the Friess team's primary obligation, which is why the firm is acting preemptively to preserve its ability to effectively execute the Friess strategy in the smid-cap space for years to come," said Chief Executive Officer Bill D'Alonzo.  

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