Connor, Clark & Lunn Funds Inc. said Wednesday that CC&L Market Neutral Fund will be closed to all new investments, effective April 11.
At 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 investors.
Effective March 1, CC&L will be launching two more of its institutional alternative investment strategies to the individual investor market, including: CC&L Diversified Market Neutral Fund and CC&L Absolute Return Fund.
Although these strategies have a broader focus than the existing Market Neutral fund (including Global equity and fixed income market neutral components), both have demonstrated strong track records and uncorrelated returns since their inception.
By bringing these new funds to the HNW retail market and listing on FundServ, CC&L says it is building on its strategy of introducing unique, alternative investment strategies that will complement core portfolio solutions to enable advisors to build better client portfolios.