Keeley Asset Management said Tuesday that it had started a mid-cap value fund.
Like the Chicago value manager’s small-cap portfolio, the Keeley Mid Cap Value Fund is to focus on undervalued stocks that are going through major changes, including corporate restructurings. The fund is to focus on companies with market capitalizations of $1.5 billion to $10 billion.
John L. Keeley Jr., the company’s founder and chief investment officer, is to be the fund’s portfolio manager. The fund will not concentrate on any sector or industry. Current dividend or interest income is not a factor in securities selections. Each stock is to be judged on its potential for above-average capital appreciation.
Keeley Asset Management, founded in 1982, is a privately owned money management firm with more than $2 billion of assets under management.
