SAN FRANCISCO - A year after putting on a moratorium to new business, Snyder Capital Management will begin taking on new clients in May, said Walter Niemasik Jr., vice president.
The firm intends to limit new clients this year to about five with $50 million to $100 million to invest and then consider re-establishing another moratorium for 1997.
The firm stopped taking new business in April 1995 over worries about maintaining performance and servicing clients for its small- to mid-capitalization value equity style.
Snyder, which now has $820 million under management, started 1995 with $494 million. It returned 37.33% gross of fees in 1995, compared with 28.44% for the Russell 2000 and 31.7% for the Russell 2500. So far this year, performance is about four percentage points above the benchmarks, he said.