CC&L Diversified Market Neutral Fund and CC&L Absolute Return Fund will be closed to all new investments as of market close on July 15, Toronto-based Connor, Clark & Lunn Financial Group (CC&L) announced on Tuesday.

Fund assets have grown to a level where CC&L believes it prudent to close the funds to new investment, the company says in a statement.

The company will alos be launching CC&L Global Market Neutral Fund to individual investors via Offering Memorandum, effective Aug. 1.

The fund was the winner of the fiver-year top performance award in the Equity Market Neutral category at the 2015 Canadian Hedge Fund Awards.