Standard & Poor's has announced its second round of funds in its new Select Fund ranking, having named 21 small-cap growth funds as "Select". S&P introduced its first list of Select Funds, large-cap growth funds, in March.

To determine its rankings, S&P analyzes both funds' performances and the strengths of their management teams.

Those funds that commanded "Select" status are: Alliance Quasar, Baron Asset Fund, BlackRock Small-Cap Growth, Chase Vista Small-Cap Equity, Eaton Vance Special Equity, Firstar MicroCap, Fremont U.S. Micro-Cap, Henlopen Fund, INVESCO Small Company Growth Fund, Lord Abbett Develop Growth, Mentor Growth, Montgomery U.S. Emerging Growth, MFS Emerging Equities, Munder Small Company Growth, Nicholas-Applegate Mini-Cap, Robertson Stephens Emerging Growth, TCW Galileo Small-Cap Growth, Turner Small-Cap Growth, UAM: RHJ Small Cap/Institutional and Wasatch Micro-Cap Fund.

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