A locally convex space E is called an (HM)-space if E has invariant nonstandard hulls. In this paper we prove that if E is an (HM)-space, then E is a T(μ)-space, where μ is the first measurable cardinal. This is equivalent to say that in an (HM)-space, with dim(E)≧μ, does not exist a continuous norm. With this result, we prove that there exists an inductive semi-reflexive space E such that the bounded sets in E are finite-dimensional but E is not an (HM)-space. Thus, we answer negatively to an open problem raised up by Bellenot. In this paper, we do not use nonstandard analysis.