CGM Funds, based in Boston, MA, is a financial investment firm that recently announced the closure of its operations. The company's Board of Trustees has approved the termination and liquidation of its three funds - CGM Focus Fund, CGM Mutual Fund, and CGM Realty Fund. Shareholders will receive redemption proceeds or a liquidation distribution based on the net asset value of their shares, and the closure may result in taxable events for shareholders subject to federal income tax.
As of November 30, 2022, CGM Funds will cease operations and no longer accept new purchases, except for dividend and distribution reinvestment. Shareholders are advised to consult a personal tax adviser regarding the tax implications of the liquidation and any associated distributions. The company will provide tax forms and statements to shareholders, and additional information will be sent separately to those who hold shares through IRAs or other tax-advantaged accounts.
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