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In contrast, Fulcrum Trust, a much smaller fund company whose June 2000 filings described its Farmer Mac notes as Aaa, said the information was supplied by a third party, Investors Bank and Trust.
Monument's decline was sharper than that of its peers, even though it is a much smaller fund.
AppFund is similar in some ways to Kleiner Perkins' iFund, a $100 million fund for investing in startups building off of the iPhone and iPod touch platform, except that it is a much smaller fund.
Union Square Ventures, the New York-based venture firm that has among the best track records in the business right now, has seemingly decided to stick with what it does best: invest in early-stage deals out of a comparatively much smaller fund.
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Mr. Adams, who managed the flagship $2 billion Berger Growth fund as well as two much smaller funds, said that using initial public offerings to improve the performance of small funds was common practice.
In effect, they run separate, and much smaller, funds.
Both would leave earlier-stage investors — who typically have much smaller funds — holding the bag.
But $100 million seems small compared to Google Ventures' funds in the U.S. "Look at the history of the U.S. It started out as much smaller funds," MG Siegler said.
The third, much small fund, Cohesion Funds (CF) contributes in the same ways as ERDF and ESF, and provides enhanced support for the smaller countries.
However, funding by SMEs is much smaller than funding by other commercial businesses.
Two other, much smaller charity funds -- one run by the investment firm Charles Schwab, the other by the Vanguard Group -- said they had established similar watch lists.
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