June 4, 2002 — The State Street Research:Aurora Fund (SSRAX) will close to new investors this month.
The fund will close on June 14 in order to keep it from getting too big to be manageable, a spokeswoman for State Street Research and Management said. The fund, which invests in undervalued stocks of small companies, has about $3.6 billion in total assets, the company said.
The fund has attracted a "significant" amount of money in recent months because of its strong performance, the spokeswoman, Robin Tyce, said.
The fund was up 9.7% this year through April, the same as the average small-cap value fund. It returned 15.8% last year, while its peers were up 14.1%. For the five years ended in April, State Street research Aurora had an average annualized total return of 23.1%, versus 13.2% for its small-cap peers.
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