Fenimore Asset Management [profile] today rolled out the FAM Small Cap Fund. The new offering marks the Cobleskill, New York-based firm's first mutual fund launch since 1996 and brings the total number of no-load funds in the FAM fund family to three.

"We have had a tremendous amount of positive input from our investors for a small-cap fund that harnesses our fundamental approach to investing," said Tom Putnam, chairman and chief investment officer at Fenimore and co-PM of the fund.

Fenimore runs two other funds, the FAM Value Fund, which launched in 1987, and the FAM Equity Income Fund, which launched in 1996. 

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