Oberweis Funds will close its Micro-Cap Portfolio at the end of May. The North Aurora, Illinois-based fund manager said that the fund will only take new investments from qualified retirement plans and IRA accounts after that date.

"Our commitment to shareholders is to invest the portfolio in true micro- cap companies with potential for high growth. To ensure that we can continue to take meaningful positions in our most promising micro-cap ideas, we are proactively closing the fund to limit the influx of new investors," said James D. Oberweis, chairman of Oberweis Asset Management.  

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