May 20, 2002 — The One Group:Small Cap Value/A (PSOAX) will close to new investors at the end of this month.

One Group, a unit of BANK ONE Corp (ONE), said it is closing the fund because of the “exceptional growth” of its assets. The fund’s four share classes currently have a total of $823.9 million in assets, compared to $687.3 million at the end of March, the fund complex said.

Classified as a small-cap growth fund by Standard & Poor’s, Small Cap Value’s class A shares were up 13.9% this year through April, while its peers were off 5%. The fund returned 26.1% last year, compared to a loss of 15.5% by its peers.