Diamond Hill Closes Long-Short Fund
Columbus, Ohio – June 15, 2015 – Diamond Hill Capital Management, Inc., a subsidiary of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL), announced that the Diamond Hill Long-Short Fund closed to most new investors effective June 12, 2015. The Fund will remain open to additional investment from existing shareholders and certain other new accounts as described in the prospectus supplement dated May 8, 2015. At Diamond Hill, portfolio managers have the authority to close their strategies before they reach an asset size where they believe they can no longer add sufficient value over a passive alternative, protecting existing clients.
“Our primary focus is always on achieving value-added results for existing clients,” said Chris Bingaman, Long-Short Fund portfolio manager and president of Diamond Hill. “We believe the best way to achieve that goal is to manage relatively concentrated portfolios, which becomes more difficult as the size of the portfolio increases. As a result, we have decided to close the Fund to new investors and remain committed to our investment philosophy and process.”
The Diamond Hill Long-Short Fund had $4.2 billion in assets under management as of May 31, 2015.
An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus or summary prospectus contain this and other important information about the Fund(s) and are available at diamond-hill.com or by calling 888.226.5595. Please read the prospectus or summary prospectus carefully before investing. The Diamond Hill Funds are distributed by BHIL Distributors, Inc. (Member FINRA), an affiliated company. Diamond Hill Capital Management, Inc., a registered investment adviser, serves as investment adviser to the Diamond Hill Funds and is paid a fee for its services. Diamond Hill Funds are not FDIC insured, may lose value, and have no bank guarantee.