Birmingham, Mich.-based Munder Capital has launched a hybrid equity mutual fund that targets investment opportunities that span both small- and mid-capitalization companies.

A Small/Mid-Cap Fund that the firm refers to as a "SMID," it seeks long-term capital appreciation through investments in companies generally with a market capitalization below $10 billion at the time of purchase, which is consistent with the current parameters of the S&P 1000 Index (currently between $44 million and $11.5 billion).

Tony Dong, a senior portfolio manager who is also Munder's director of mid-cap equity, and Robert Crosby, a senior portfolio manager and a member of the firm's small-cap value fund, will manage the SMID.

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