Munder Capital will target small and mid-cap stocks with its newest mutual fund. The Birmingham, Michigan-based fund firm launched the Munder Small-Mid Cap Fund this morning. The SMID fund (SMID refers to both small- and mid-cap companies, according to Munder), will invest in firms with market caps of up to $10 billion.

It will also follow the "growth-at-a-reasonable-price" (GARP) strategy in wide-use at Munder. The portfolio managers include Tony Dong and Robert Crosby.

Funds Distributor is the distributor for the fund. Shares are being offered in A, B and C classes through financial consultants.

Munder officials say that the firm now advises "approximately 20 mutual funds." Munder was founded in 1985 and now manages some $36.7 billion in assets.  

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