Marketocracy Funds has added another fund with the launch of The Masters 100 Fund. Unlike the firm’s three other funds, which invest in medical and tech sectors, the new fund is broadly diversified and will invest in U.S. and foreign firms of any market capitalization.

Holding true to Marketocracy’s mission of creating an amateur-run family of funds, the new product will pick stocks using the investment insight of amateur investors. Although Ken Kam, the firm’s co-founder, will manage The Masters 100 Fund, he will select stocks for the fund from a series of investor-run virtual portfolios listed on the firm’s Web site.

As of the end of the second quarter, Marketocracy held approximately $33 million in fund assets, according to the firm.

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