Meridian Funds: Meridian Small Cap Growth (MSGAX)
Meade and Schaub have worked together for about eight years and are committed to fundamental “bottom-up” research when it comes to picking mid- and small-cap stocks. Meridian Funds’ newly launched (Dec. 16) Meridian Small Cap Growth (MSGAX) should be the perfect vehicle to continue their winning ways.
MSGAX is brand-new, but is squarely focused on the small-cap space and currently holds 96 stocks. Industrials account for 31% of the portfolio, with information technology names accounting for 24% as of Dec. 31, 2013. That results in top holdings including Clean Harbors (CLH), Carter’s (CRI), Heritage-Crystal Clean (HCCI), Cadence Design Systems (CDNS) and Vista Print (VPRT).
Fund expenses are estimated to be 1.9%, or $190 for every $10,000 invested. I would anticipate that this number will come down some over time as assets grow.
While it’s often a smart move to buy a fund with a proven track record, sometimes buying a new fund guided by fine management is a unique opportunity. With the list of compelling funds that have recently closed to new investors growing, this new selection by Meridian Funds could be a timely way to gain small-cap exposure.