While the open-end fund world has had Internet products on the market for several years, the closed-end world is just now introducing its first Internet fund.

The new closed-end product is the LCM Internet Growth Fund, which will be managed by LCM Capital Management of Chicago, according to an SEC filing. LaSalle Street Securities of Chicago and Wedbush Morgan Securities of Los Angeles are underwriting the fund. It will be sold on the American Stock Exchange.

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