 The Small-Cap Fund later closed to new investors in 1997 and remains closed today.The Longleaf Partners Funds is a suite of mutual fund and UCITS fund products introduced into the market by Southeastern Asset Management in 1987 as a way for Southeastern employees to invest in the funds they managed.Southeastern's employees and their immediate families are limited by the firm’s code of ethics to invest in public equities through the firm's funds unless granted an exception.