Invista Capital Management Inc. has begun offering a small-cap growth equity strategy for institutional investors.
The Des Moines, Iowa, firm has managed a small-company separate account of $140 million for its parent company, Principal Mutual Life Insurance Co., since 1991.
The account manager, Vice President J. Gary Craven, seeks out small, established growth companies with approximately $200 million to $800 million in capital and market capitalizations less than the 500 largest companies.
Its three-year net return through the first quarter of 1994 was an annualized 21.3%, compared with 17.24% for the Wilshire 250 Small Cap Index and 9.09% for the Standard & Poor's 500 Stock Index.
Invista already offers domestic core equity, international equity and mortgage-backed securities management to institutions.
The firm currently has $9 billion in assets from pension plans, endowments, foundations and individuals.