June 27, 2002 — Wasatch Advisors said it will close Wasatch Funds:Ultra Growth Fund (WAMCX) to new investors next month to keep it from getting too large to be manageable.
The fund, which has seen its assets increase to about $320 million from $177.2 million at the end of 2001, will stop accepting new investors on July 17.
Wasatch Ultra Growth was down 7.3% this year through May while the average small-cap growth fund was off 9.1%. The Wasatch fund generated a total return of 18.3% last year, compared to a loss of 15.5% by its peers. The fund is ranked 5 Stars by Standard & Poor’s.