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Fund Spy

The 4 Smallest Medalists

These under-the-radar funds all have less than $200 million in assets.

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Funds with small asset bases have some unique qualities that make them worth a look. I've chosen our four smallest Morningstar Medalists (excluding target-date funds) to give you some ideas. With funds like this, you can be sure the managers have a long runway to keep executing their strategy without being overwhelmed by assets. If you have chosen a good fund and it does perform well, you won't have the frustration of seeing it alter its style for a good while.

Small funds also have the maneuverability to make the most of less-liquid holdings like micro-cap names or other stocks with a small float. Many funds lose that ability as they get larger.

Russel Kinnel has a position in the following securities mentioned above: DODLX. Find out about Morningstar’s editorial policies.