Closed to New Investors
Acting in the best interests of shareholders is our highest priority at Westcore Funds. It is with this in mind that we have made the decision to close the Westcore Small-Cap Value Fund to new investors.*
Assets in the Westcore Small-Cap Value Fund have grown considerably since it was launched in December 2004. Denver Investments, the advisor to the Westcore Funds, also manages institutional assets in this style and these assets combined with the Fund assets now exceed $1.5 billion.
The limited capacity of the small-cap universe means that if the assets in Denver Investments’ small-cap value style become too large, the investment team may not be able to manage the Fund as effectively. Therefore, we believe it is in the best interest of our shareholders to limit flows into the Fund at this time. Effective April 1, 2011, the Fund will be closed to new investors. This is commonly known as a “soft close.”
The prospectus supplement includes further details of this soft close.
If, after the soft close, the Fund continues to grow to a size where we believe future growth will negatively impact Denver Investments’ ability to successfully manage the style, we may further restrict shareholder inflows through a “hard close.”
Our shareholders are a priority and we believe this soft close will allow the investment team to remain consistent in its process. If you have any questions, please contact a Westcore Investor Service Representative at 800.392.CORE (2673).
* Please see the prospectus supplement for further details regarding circumstances under which new accounts may continue to be established.
Investing in small-cap funds generally will be more volatile and loss of principal could be greater than investing in larger-cap funds.
