Aston/River Road Independent Value Fund defines 'soft close' level

By Toni Weeks

San Diego, Nov. 18 - The Aston/River Road Independent Value Fund said that it expects to implement a "soft close" if the net assets of the fund reach a certain level in combination with other assets managed in the same investment strategy by River Road Asset Management, LLC, the fund's subadviser.

According to a 497 filing with the Securities and Exchange Commission, the fund currently expects its soft close level to be between $500 million and $600 million in net assets. As of Nov. 16, the net assets of the fund were $469 million.

A soft close means that the fund will not accept additional investments until further notice. However, existing shareholders may add to their accounts; financial consultants who already have clients invested in the fund can open new accounts for either new or current clients; participants in retirement plans that use the fund as an investment option can designate the fund where feasible; and trustees of Aston Funds, employees of Aston Asset Management LP and River Road and their family members may open new accounts.

Chicago-based Aston Asset Management, LP serves as investment adviser to the fund.

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