The Wall Street Journal is the latest media outlet to pick up on Allianz Global Investors' [see profile] decision to further limit access to the NFJ Small-Cap Value Fund. In summing up the mutual fund's situation, WSJ's Daisy Maxey writes in the Fund Track column this morning that, "like a movie star who can't escape the paparazzi's flash," the fund "wishes it wasn't getting so much attention."

The fund has been closed to new investors since April 2009 and to all investors except those in 401(k) and other savings plans since August 2009. Now, Allianz is closing the fund to participants in "certain specific benefit plans," including 401(k)s, 457s, 403(b)s, defined benefit and 529s.

Exactly which plans will still be able to access the fund isn't clear. Kristina Hooper, head of portfolio strategies for Allianz Global Investors, told the WSJ that Allianz hasn't said which plans will be able to continue investing in the fund. 

Edited by: Hung Tran


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