Gartmore Funds has launched a small-cap fund that will be managed by small-cap growth and small-cap value portfolio teams.

The Gartmore Small Cap Leaders Fund is available in retail and institutional share classes; its managers are to select companies with market capitalizations in the range of the Russell 2000 Index.

The portfolio is part of Gartmore Funds' Leadership Series, concentrated pools of 25 to 70 securities covering large-cap, mid-cap, small-cap and global mandates. For the Small Cap Leaders Fund, the small-cap growth and small-cap value managers are to select 20 to 30 securities of companies they identify as leaders.

Gartmore defines leaders as companies with a franchise or other competitive advantage that should enable them ultimately to outperform their peers.

The small-cap growth team is led by Carl Wilk, a senior portfolio manager. Gary Haubold, also a senior portfolio manager, and team members William Gerlach and Charles Purcell are to manage the small-cap value part of the portfolio.

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