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Have You Bought a Fund That Reopened Recently?


I just got word that the Schneider Small Cap Value Fund will briefly reopen to new investors on April 8. This is yet another example of funds reopening amid a downdraft in equities, especially in the small-cap stock arena.

Schneider Small Cap Value, which has been around since 1998, is one of those little gems that often pops up on my computer screen when I am looking at small-cap value funds. Except for a brief reopening in 2006, it has been shuttered to new investors since 2002. “The fund’s cash position has been reduced considerably in recent months as the volatile investment environment, coupled with weak near-term relative returns for small cap value stocks, has enhanced the universe of potential investment candidates,” Arnie Schneider, the firm’s founder and manager of the Small Cap Value Fund, said in a press release. “We would like to capitalize on these attractive opportunities.”

At this point, a slew of mutual funds have reopened in recent weeks, so I’m curious if anyone out there has invested in one of them. If so, please let me know which funds you bought and why?

Update: I asked Schneider how long the fund would be opened, and I got this response from the firm: “The Small Cap Value Fund will be open for a limited time but we have not established a specific date or asset size for closing it again. That decision will be based on an ongoing assessment of market opportunities,” said Steve Darby, Managing Director at Schneider Capital Management.”


Steve Ballmer, Power Forward
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