One Group Mutual Funds
has reopened its Small Cap Value Fund
to new investors. The fund had been closed to new investors since last May 31, 2002. It held $605 million of assets as of October 15. The decision was made in response to the recent decline in the prices of small cap stocks and an increase in the number of companies sporting reasonable price tags, according to the fund's portfolio managers.
"When the fund was closed, we had experienced rapid growth and an influx of new money," said Lawrence Baumgartner
, leader of the fund's portfolio management team. "Because of strong performance among small-cap value stocks in 2000 and 2001, it was becoming increasingly difficult to find stocks that met the fund's strict investment criteria."
"We never intended to keep the fund closed for long periods," added Baumgartner. "Now that the stock market has declined, small-cap value stocks look more reasonably priced, and the fund is better positioned to invest additional assets."
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