Small-cap funds are not likely to extend their streak of big gains, Sam Mamudi writes in Tuesday's Wall Street Journal Fund Track. From March though Friday last week, small-cap funds were up 67.1 percent on average, compared with 60.8 percent gain for mid-cap funds and 52 percent for large caps.

But observers say those big small-cap gains may not last, pointing out that the economy remains wounded, bank lending continues to be restrictive and valuations among small-cap stocks are high. There's room to rise, but the increase won't be as huge.

Among those quoted in the article are Sam Dedio, who runs Artio US Small Cap Fund, Lipper senior analyst Tom Roseen and Standard & Poor's Equity Research chief investment strategist Sam Stovall. 

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