CC&L will curb new investment in fund

Toronto-based Connor Clark & Lunn Funds Inc. (CC&L) has announced it will close CC&L Market Neutral Fund to new investments, effective April 11. CC&L says fund assets have grown at a much faster pace than anticipated, and the firm believes it prudent to close the fund to new investments for the benefit of existing unitholders. In addition, effective March 1, CC&L will launch two more institutional alternative investment strategies in the individual investor market, including: CC&L Diversified Market Neutral Fund and CC&L Absolute Return Fund. By bringing these two funds to the high net-worth retail market and listing on FundServ Inc., CC&L intends to build on its strategy of introducing unique, alternative investment strategies.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).