TFS Capital, based in Richmond, Virginia and West Chester, Pennsylvania, has announced the closing of its Market Neutral Fund (TFSMX) to new investors, effective June 30, 2009. The close will be a “soft close” so any existing shareholder will be able to continue buying additional shares. Advisors who have already invested on behalf of their clients will also be able to buy shares for existing and future clients (subject to brokerage capabilities).
According to TFS for the 12 months ending 5/31/09, the Market Neutral Fund returned -5.13% vs. the S&P 500′s -32.57%. Year to date the fund’s return 8.05% through the end of May.