Leeb Resources Fund to redeem remaining shares, cease operations

By Tali David

Minneapolis, March 14 - The board of trustees of the Leeb Resources Fund plans to redeem all remaining shares and cease operations of the fund, according to a 497 filed with the Securities and Exchange Commission.

Leeb said this is due to the adviser's decision that it is no longer economically viable to continue managing the fund as a result of the fund's small asset size and increasing regulatory and operating costs borne by the adviser.

The fund is no longer accepting purchase orders for shares and will close on April 20.

The fund's investment adviser is New York-based Leeb Capital Management.

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