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Fund Times

What IVA's Unusual Move Means for Its Fund Shareholders

International Value Advisers is winding down its operations.

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International Value Advisers announced on March 10, 2021, that it plans to liquidate its two U.S. mutual funds, IVA Worldwide (IVWAX) and IVA International (IVIOX), on or around April 19, 2021. As a result, the Morningstar Analyst Ratings of all share classes of both funds have been reset at Neutral.

IVA added that all associated accounts and funds will be similarly liquidated, and that the firm itself will wind down operations and cease to exist. As of March 10, the IVA funds began selling all holdings in order to hold only cash and other cashlike securities, and no investments into the funds are being permitted, even by current shareholders. Fund shareholders can redeem their shares at any time before the liquidation date. Any shares not redeemed by then will be automatically redeemed to the shareholder on that date.

Gregg Wolper does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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