The closing is aimed at keeping the fund from getting too big to be manageable, said Peter Spano, its portfolio manager. The fund currently has about $620 million in assets, he said.
Preferred International Value was up 5.3% this year through September, while the average international equity fund gained 3.3%. The Preferred fund rose 5.5%, on average, for the five years through last month, compared with a 0.7% loss by its peers.
The fund is ranked five stars by Standard & Poor’s.
Contact Bob Keane with questions or comments at: [email protected].