Perkins Investment Management will lower the minimum institutional separate account size for its small-cap and midcap value equity strategies to $10 million from $25 million, said James Aber, a spokesman with parent company Janus Capital Group.
Separately, the $700 million Perkins Small Cap Value fund has been reopened to new investors; it had been closed since February 2000.
In a news release, CIO Jeff Kautz said that compelling investment opportunities now cited by the small-cap value funds portfolio management team, and the fall in the funds assets with the broader markets decline, led to the decision to reopen.
Justin Tugman, an analyst with the firm, was named a co-portfolio manager of the small-cap value fund, joining Bob Perkins and Todd Perkins. Mr. Aber said Mr. Tugman will retain his analyst responsibilities.