A former Dalton Greiner Hartman Maher & Co. portfolio manager has launched a hedge fund to invest in the small-cap space.
Stephen Bruno, the founder of Stamford, Conn.-based ZCM Capital Partners, has launched an eponymous hedge fund to invest in small-cap domestic stocks, which the firm defines as all U.S. equities that had a market capitalization of $315 million to $2.1 billion at the end of 2007, according to fund documents.
Bruno employs a proprietary model dubbed Multi-View, which uses a portfolio selection procedure that integrates stock selection, trading cost control and risk control. The model screens a universe of approximately 1,500 small-cap stocks using a bottom-up approach.
The fund launched in July and finished its first two months of trading up 4.57%, gaining 4.04% in August.
The rookie hedge fund charges a 1.25% management fee and a 20% incentive fee with a $500,000 minimum investment requirement.
Bruno is joined at ZCM by Christina Fiorito, who left Dalton Greiner this year to take up the position of portfolio manager/analyst. She previously served in the same capacity at Dalton.