Aegis Funds board OKs April 30 liquidation of Aegis High Yield Fund

By Toni Weeks

San Luis Obispo, Calif., Feb. 9 – The board of trustees of the Aegis Funds approved on Feb. 9 the liquidation of the Aegis High Yield Fund, according to a 497 filing with the Securities and Exchange Commission.

The decision is in the best interests of the fund and its shareholders, the board said.

The fund has been in a “defensive position” since Dec. 17 and intends to remain in that position until the fund is closed to facilitate anticipated redemptions, the filing said. The liquidation date is expected to be April 30.

The fund seeks to achieve maximum total return with an emphasis on high current income. Under normal circumstances, it invests at least 80% of its assets in high-yield, fixed-income securities, which include lower-quality, high-risk U.S. and foreign corporate bonds and preferred stocks.

McLean, Va.-based Aegis Financial Corp. is the investment adviser to the fund.

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