May 28, 2003 — The Armada Small Cap Value Fund/A (AMRRX) will be closed to new investors Friday to keep its assets from increasing to the point where they would hurt performance.
By closing the fund, its managers expect to slow the flow of money into the portfolio, and prevent its asset base “from becoming a hindrance” to performance, Armada Funds said in a regulatory filing.
The fund’s retail A, B and H shares, which will stop accepting new investors, have about $154.6 million in total assets.