Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
PKSAX/PKSCX/PKSFX - Virtus KAR Small-Cap Core Fund - any backdoors?
I'd really like to get into Virtus KAR Small-Cap Core Fund. It has been closed since 2018.
They have recently re-opened Virtus KAR Small-Cap Growth Fund (PSGAX/PSGCX/PXSGX), which has the same management duo, but portfolio profiles look pretty different.
Would consider trying any brokerage, advisor, etc.
Once you are able to purchase the fund in a defined benefit plan, you can probably send a copy of your defined benefit account statement exhibiting fund ownership to the transfer agent so can open an account with them, but you need to confirm this with the transfer agent first.
Excerpt:
Effective July 31, 2018, this Fund is closed to new investors, but remains open to Defined Contribution and Defined Benefit plans. Please see the prospectus for these and other exceptions.
Virtus KAR Small-Cap Core Fund is no longer available for purchase by new investors (except as described below). The fund continues to be available for purchase by existing investors; however, the fund reserves the right to refuse any order that may disrupt the efficient management of the fund.As of the date of this prospectus, only the following investors may make purchases in the Virtus KAR Small-Cap Core Fund :▪ Current shareholders of the fund, whether they hold their shares directly or through a financial intermediary, may continue to add to their accounts through the purchase of additional shares and through the reinvestment of dividends and capital gains. Financial intermediaries may continue to purchase shares on behalf of existing shareholders only. ▪ Exchanges into the fund may only be made by shareholders with an existing account in the fund. ▪ An investor who has previously entered into a letter of intent with the Distributor prior to the closing date may fulfill the obligation. ▪ Trustees of the fund, trustees/directors of affiliated open- and closed-end funds, and directors, officers and employees of Virtus, its affiliates, and their family members, may continue to open new accounts. ▪ New and additional investments may be made through firm or home office discretionary platform models within mutual fund advisory (WRAP) programs and other fee-based programs established with the Distributor prior to July 31, 2018. ▪ The fund will also remain open to Defined Contribution and Defined Benefit retirement plans and will continue to accept payroll contributions and other types of purchase transactions from both existing and new participants in such plans.
Notwithstanding the above exceptions, the fund may discontinue new and subsequent sales through any financial intermediary at its discretion.The fund and the Distributor reserve the right to modify these exceptions at any time, including on a case-by-case basis
Just quickly checked out AVALX. I like that it is underweighted in technology and it looks to have had a pretty good run over the last 5 years. Definitely, on par with PKSFX.
But the -39%/-50% max drawdowns at AVALX vs -18%/-18% at PKSFX over 5/10 year windows under same managers - at least, if you believe Mstar - are worrisome.
First I wondered how this Palm Valley Capital Fund (PVCMX) was able to get such low volatility and then, wow, it's one of my all-time favorite managers: Eric Cinnamond. I'd been an investor with ARIVX and ICMAX during his tenure so that explained everything. (Don't know how I would have found out about him coming back w/o MFO.)
I still want to into get into Virtus KAR Small-Cap Core Fund if at all possible, but will now have to put some money into PVCMX as well. Just hope they do not shut this one down like ARIVX when the market gets too bubbly... (as it is right now, imo).
Comments
https://www.virtus.com/products/kar-small-cap-core#shareclass.A/period.quarterly
Once you are able to purchase the fund in a defined benefit plan, you can probably send a copy of your defined benefit account statement exhibiting fund ownership to the transfer agent so can open an account with them, but you need to confirm this with the transfer agent first.
Excerpt:
Effective July 31, 2018, this Fund is closed to new investors, but remains open to Defined Contribution and Defined Benefit plans. Please see the prospectus for these and other exceptions.
From the January 29, 2024 prospectus:
https://www.virtus.com/products/documents/kar-small-cap-core#Statutory+Prospectus_431
IMPORTANT INFORMATION FOR INVESTORS
Virtus KAR Small-Cap Core Fund is no longer available for purchase by new investors (except as described below). The fund continues to be available for purchase by existing investors; however, the fund reserves the right to refuse any order that may disrupt the efficient management of the fund.As of the date of this prospectus, only the following investors may make purchases in the Virtus KAR Small-Cap Core Fund
:▪ Current shareholders of the fund, whether they hold their shares directly or through a financial intermediary, may continue to add to their accounts through the purchase of additional shares and through the reinvestment of dividends and capital gains. Financial intermediaries may continue to purchase shares on behalf of existing shareholders only.
▪ Exchanges into the fund may only be made by shareholders with an existing account in the fund.
▪ An investor who has previously entered into a letter of intent with the Distributor prior to the closing date may fulfill the obligation.
▪ Trustees of the fund, trustees/directors of affiliated open- and closed-end funds, and directors, officers and employees of Virtus, its affiliates, and their family members, may continue to open new accounts.
▪ New and additional investments may be made through firm or home office discretionary platform models within mutual fund advisory (WRAP) programs and other fee-based programs established with the Distributor prior to July 31, 2018.
▪ The fund will also remain open to Defined Contribution and Defined Benefit retirement plans and will continue to accept payroll contributions and other types of purchase transactions from both existing and new participants in such plans.
Notwithstanding the above exceptions, the fund may discontinue new and subsequent sales through any financial intermediary at its discretion.The fund and the Distributor reserve the right to modify these exceptions at any time, including on a case-by-case basis
(not sure I am quite there yet but might be getting close...:)
Wow learn something new everyday. I somehow missed TSP Mutual Fund window.
But there is nothing about it on my account window
Just quickly checked out AVALX. I like that it is underweighted in technology and it looks to have had a pretty good run over the last 5 years. Definitely, on par with PKSFX.
But the -39%/-50% max drawdowns at AVALX vs -18%/-18% at PKSFX over 5/10 year windows under same managers - at least, if you believe Mstar - are worrisome.
Open to any other suggestions.
https://www.tsp.gov/mutual-fund-window/
First I wondered how this Palm Valley Capital Fund (PVCMX) was able to get such low volatility and then, wow, it's one of my all-time favorite managers: Eric Cinnamond. I'd been an investor with ARIVX and ICMAX during his tenure so that explained everything. (Don't know how I would have found out about him coming back w/o MFO.)
I still want to into get into Virtus KAR Small-Cap Core Fund if at all possible, but will now have to put some money into PVCMX as well. Just hope they do not shut this one down like ARIVX when the market gets too bubbly... (as it is right now, imo).