One of the mutual fund industry’s oldest funds, run by one of its most enduring fund managers, Kenneth Heebner, went out of business last week, when Natixis Global Asset Management liquidated its CGM Advisor Targeted Equity Fund.
“On February 17, 2016, the CGM Advisor Targeted Equity Fund (the “Fund”) was liquidated. The fund no longer exists, and as a result, shares of the fund are no longer available for purchase or exchange,” Natixis said in a Securities and Exchange Commission filing.
