Montgomery Re-Opens Fund
February 14, 2000
The Montgomery Global Long-Short Fund reopened to investors earlier this month after closing in May of last year, said Peter Greenley, a spokesperson for Montgomery Asset Management of San Francisco.
The fund reopened as part of its strategy to control asset growth, Greenley said. Montgomery introduced the fund in 1998 and it had a return of 58 percent that year. In 1999, Global Long-Short gained 135 percent, according to Morningstar of Chicago, the fund tracking firm. The fund closed in May with approximately $160 million in assets under management, Greenley said.
The fund will be allowed to grow an additional $200 million before it is closed again, but that figure is tentative, according to Greenley.