Citadel Group of Funds is launching the Citadel Value Fund, the latest fund in the Citadel Group of Funds. The fund’s initial private placement offering closed July 5, 2001.

Citadel says the fund was created to capitalize on the value investing expertise of Bloom Investment Counsel, Inc., the fund’s manager.

The Citadel Value Fund is an open-ended unit trust. All of Citadel’s other funds are publicly traded closed-end mutual fund trusts.

Units of the fund will be offered on a continuous basis. Prior to August 3 units will be offered at $500 per unit and thereafter at net asset value, with minimum subscriptions of $97,000 for investors in Alberta, B.C, and Manitoba and $150,000 in Ontario.