Chicago-based Van Kampen Investments, a broker-distributed unit of Morgan Stanley Dean Witter has opened its new Small Cap Growth Fund.

The fund's five managers will focus on companies with market capitalizations of $2 billion and below. The managers include co-lead managers Gary Lewis and David Walker, as well as portfolio managers Dudley Brickhouse, Janet Luby and Matthew Hart.

"The new Van Kampen Small Cap Growth Fund fills a niche in our growth offerings," said Jack Zimmermann, Van Kampen Funds president in a statement. "We now provide a complete line of growth products.

"Historically, small-cap stocks have provided better returns over the long term than large caps. We believe there are significant opportunities for growth in this category," he added.

The minimum initial investment for the Van Kampen Small Cap Growth Fund is $1,000 with subsequent investments of at least $25. The fund offers Class A, B and C shares.  

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