3 Newly Reopened Funds for the New Year
Mairs & Power Small Cap, FMI International, and IVA International Fund are all open to new investors again.
Susan Dziubinski: Hi, I'm Susan Dziubinski for Morningstar.com. Mutual funds typically close or otherwise limit new investments when they foresee that ongoing inflows may impact their investing style. In some cases, those funds remain closed. Sometimes, closed funds reopen. Here are three Morningstar Medalist funds that did just that in 2018.
Tony Thomas: Silver-rated Mairs & Power Small Cap reopened to new investors in September, and that's good news for investors looking for a good option in the small-cap space. The fund closed at a fairly conservative $330 million in 2016, but that's typical of this conservative firm that likes to be careful with investors' assets. The managers run this fund well. They execute an excellent process that favors high-quality businesses with defensible competitive positions. Investors that understand its process could have anticipated what's happened with the fund over the last couple of years. In 2017, it really struggled. Its good businesses just weren't as favored in that bull market. But in 2018's more volatile market, the fund has done quite well. So, again, this is a good opportunity for investors to get into this small-cap fund.
Morningstar.com does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.