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Originally Posted by jIM_Ohio
Funds like this allow the fund companies to start new funds and channel money into them.
For example T Rwoe Price has new global funds, mid cap funds and small cap funds, plus a new tech fund. Including a small position in these allows TRP to establish an asset base for these funds.
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Actually these funds serve a better purpose by letting you get into funds that are CLOSED to new investors. T Rowe's mid-cap and small-cap funds are currently closed to any new investors. The only way to access them, unless you already own them, is through their target retirement funds.