May 20, 2003 — The NI Numeric Investors Small Cap Value Fund (NISVX), which has topped its peers in recent months and over the last three years, is set to close to new investors.

In an effort to keep it from getting too big to be manageable, Numeric Investors said the fund will close either on Friday, or when its assets reach $145 million, whichever comes first. The fund currently has $140 million in assets, the company said.

The pace of investments into the fund, which had $114 million in assets at the end of 2002, has been “consistent” this year, said Lynn Wickwire, Numeric’s director of mutual fund marketing. “We’ve seen reasonable inflows,” he added.

The fund returned 5.3% this year through April while its small-cap value fund peers were up 2.9%, and the Russell 2000 Value index was up 3.9%. The Numeric fund gained an average annualized 21.3% for the three years ended last month while its peers rose 5.4%, and the index climbed 7.3%.

The fund, which is ranked 5 Stars by Standard & Poor’s, reopened to new investors last July after being closed last March.