Funds Notebook: NetNet Goes Overseas

Munder Funds, which runs the $7.2 billion (MNNAX Quote)NetNet fund -- far and away the largest Internet fund -- plans to launch a foreign version, International NetNet, according to a Securities and Exchange Commission filing.

The fund will invest in foreign Internet companies of any size, and can invest "without limit" in foreign initial public offerings, according to the fund's prospectus.

Munder hopes to launch the fund in April. It needs to move quickly because rival Kinetics Asset Management, adviser of the (WWWFX Quote)Internet fund, launched four new Net funds this month, including the Internet Global Growth fund. ...