June 26, 2002 — Enterprise Capital Management plans to eliminate Enterprise Grp Global Technology Fund/A (EIIAX) by merging it into Enterprise Grp Internet Fund/A (EIFAX).
The Global Technology fund has been unable to “attract significant assets,” Enterprise said in a regulatory filing. The fund, which was closed to new investors last month in connection with the proposed merger, currently has total assets of about $6 million, compared to assets of $76.2 million in the Internet fund, Enterprise said.
Following the merger, the Internet fund, which currently invests mostly in Internet and related companies, would primarily buy technology and related stocks, and would be renamed the Technology fund. The reorganization is subject to shareholder approval.