BB&K Scrapping Diversa Fund

June 13, 2002 — The Bailard Biehl & Kaiser Diversa Fund (DVERX) is slated to be liquidated because of its small size.

The fund, which invests in international stocks and bonds, currently has about $22 million in assets, according to the Bailard Biehl & Kaiser. The liquidation is subject to shareholder approval.

The Diversa fund was down 2.2% this year through May, while the average international balanced fund was up 1.2%.