Rady Contrarian Long/Short Fund to close on Dec. 23

By Toni Weeks

San Diego, Nov. 21 - The board of trustees of the Rady Contrarian Long/Short Fund has decided to close the fund and redeem all outstanding shares at 4 p.m. ET on Dec. 23, according to a 497 filing with the Securities and Exchange Commission. At that time, shares will be automatically redeemed, with proceeds sent to shareholders at the address of record.

Shares of the fund are no longer available for purchase, and the fund will begin to liquidate on Nov. 21. Any capital gains will be distributed to shareholders as soon as is practical and reinvested in additional shares or, if previously requested, in cash.

Prior to the liquidation date, shareholders may redeem shares, including reinvested distributions. Unless the investment is through a tax-deferred retirement account, redemptions are subject to tax on any taxable gains.

The fund is managed by La Jolla, Calif.-based Rady Asset Management, LLC.

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