Cullen Capital Management is about to launch its third, in-house mutual fund. Carl Gardiner, vice president, confirmed that the New York-based value shop plans to release the Cullen Small Cap Value Fund on Thursday.

The new fund offers retail, C, I, R1 and R2 shares (for 127, 202, 102, 177 and 152 basis points, respectively). Gardiner, who hails from the hedge fund and investment banking world, serves as one of the new fund's portfolio managers, alongside Brooks Cullen and Jim Cullen. Bank of New York Mellon custodies the fund and ALPS serves as transfer agent.

Cullen is not new to small cap value investing. Gardiner confirmed that Cullen has run small cap value separately managed account strategies since the early 1990s. The firm now boasts about $10.5 billion in assets, including $75 million in small cap value strategies. (Cullen already runs two other in-house funds, Cullen High Dividend Value and Cullen International High Dividend Value, while subadvising the Pioneer Cullen Value Fund.)

Gardiner described the new fund as a way to bring those strategies, which have a minimum investment of $250,000 when in SMA format, down to the average investor -- the new fund has a minimum of only $1,000. 

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