MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, July 30, 2008 Touchstone Swaps One International Fund for Another Touchstone Investments is swapping one international growth fund for another. The Boston Business Journal reports that the Cincinnati company closed its Touchstone International Equity Fund June 30. The decision to close the fund was made following a large drop in AUM, from $103 million at the March to $31 million by the end of May. The drop was caused by the decision of a large institutional shareholder to redeem shares and pull out of the fund, a company spokesman told the pub. The setback did not put Touchstone out of the international growth arena for long. On July 2, the company filed a statement of registration in which it said it was buying the assets of the Navellier International Growth Portfolio. The deal will close pending shareholder approval of the transaction in a vote on September 26. The fund currently has $6 million in assets. Printed from: MFWire.com/story.asp?s=18909 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |