The Challenger Smaller Companies Fund will be closed to new investors effective from 31st May 2004. The Fund has experienced substantial growth in the past six months increasing from $122 million as at 30th September 2003 to $401 million as at 28th February 2004 and accordingly, in our view, the Fund is close to reaching capacity.
If you have already invested in this fund and would like to make additional investments, you will need to do so before 31st May 2004. Additional one-off investments into the Fund will not be accepted after 31st May 2004. However, Regular Savings Plans and distribution reinvestments will continue to be accepted after 31st May 2004 provided that these arrangements have been put in place prior to this date.