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Closing Set For Gartmore Micro Cap Equity Fund

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Nov. 11, 2004 — The Gartmore Micro Cap Equity/A (GMEAX), which has topped its peers over the last two years, will close to new investors at the end of the month to keep its assets at a manageable level.

The fund’s cash inflows have been “strong,” in part because of its returns, Carl Wilk, who oversees the portfolio, said in a statement. “Given the liquidity concerns inherent” in investing in the very small companies the fund focuses on, it is in the best interest of shareholders to limit the inflows, he said.

Gartmore Micro Cap focuses on companies with market capitalizations of about $200 million. This year through October, the fund returned 11.6%, compared to a 6.3% gain by the average small-cap blend fund. Gartmore Micro Cap, which began operating in June 2002, was up 93.1% last year, versus a gain of 43.2% for similar funds.

Gartmore Funds said it will “continue to monitor” the fund’s assets and may close it to all investors “at some point in the future.”

Gartmore Micro Cap Equity is too new to be ranked by Standard & Poor’s.

Contact Bob Keane with questions or comments at: .