WAYNE, PA — Conestoga Capital Advisors, LLC has expanded its offering of mutual funds with the recent launch of the Conestoga Micro Cap Fund (tickers: CMCMX and CMIRX) on December 17, 2021. The Micro Cap Fund seeks long-term capital appreciation by investing in the equity securities of companies with micro-market capitalizations.
Bob Mitchell, Co-Founder/Managing Partner and Chief Investment Officer, stated, “The Micro Cap Fund complements our family of mutual funds, which already includes our Small Cap Fund, SMid Cap Fund and Mid Cap Fund. The Micro Cap Fund fits very well into our existing research perspective as it targets those companies that are in the earliest stage of entering our investment universe.”
The Micro Cap Fund is managed by David Neiderer and Joe Monahan. Mr. Neiderer joined Conestoga as a research analyst in 2013 and has served as a co-portfolio manager for the firm’s Micro Cap Growth portfolios since 2018. Mr. Monahan joined Conestoga in 2008, has co-managed the firm’s flagship Small Cap Growth strategy since 2014, and has also been a co-portfolio manager for the firm’s Micro Cap Growth portfolios since 2018. The Micro Cap Fund was created by the re-organization of the Conestoga Micro Cap Fund LP, a limited partnership vehicle that was launched in November 2018.
“Conestoga’s focus on identifying high-quality companies through an in-depth diligence process lends itself incredibly well to building micro-cap portfolios that seek long-term capital appreciation,” added David Neiderer, Partner and Portfolio Manager. “The Micro Cap Fund capitalizes on our research of the smallest capitalization companies in our investment universe.”
The Micro Cap Fund joins the family of Conestoga Funds, which also includes the Conestoga Small Cap Fund, launched in 2002, the Conestoga SMid Cap Fund, launched in 2014, and the Conestoga Mid Cap Fund, launched in 2021. The Conestoga Small Cap Fund invests in small capitalization growth stocks and has been in a soft close since 2018. Net assets of the Conestoga Small Cap Fund were over $4.5 billion as of December 31, 2021. The Conestoga SMid Cap Fund invests in small and mid capitalization stocks and had net assets of $438 million as of December 31, 2021. The Conestoga Mid Cap Fund invests in mid capitalization stocks and had net assets of just under $2 million as of December 31, 2021. As with the Small Cap Fund, SMid Cap Fund, and Mid Cap Fund, the Micro Cap Fund is offered with both an Investor Class and an Institutional Class.
“The launch of the Conestoga Micro Cap Fund allows us to offer this strategy to those investors who prefer a mutual fund vehicle,” said Mark Clewett, Managing Partner and President. “We have grown our assets under management through the support of registered investment advisors and institutional investors, and we believe the Micro Cap Fund augments our offerings to these clients.”
Headquartered in Wayne, PA, Conestoga Capital Advisors, an independent investment advisory firm, manages over $8.8 billion in Micro, Small, SMid and Mid Cap growth company portfolios for both institutional and individual investors as of December 31, 2021.
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