Close-ended balanced mutual fund firm TS&W/Claymore Tax-Advantaged Balanced Fund is reorganizing into an open-end mutual fund. The restructuring is aimed at bringing more opportunities to invest in a strategy consistent with a major part of the fund’s investment strategy managed by a high-quality asset manager.
The move will also provide continuous liquidity at net asset value, reduced management fee, lower projected expense ratio and potential growth of the new fund via distribution. Security Global Investors will act as investment adviser, while Rydex Distributors will distribute the open-end fund.
Click here for the release from Business Wire.