Salomon Brothers Asset Management has launched the Small Cap Growth Fund, which will be available through banks and other distribution channels.

The fund, which opened July 1, will be offered through banks as soon as selling agreements can be struck, a Salomon spokeswoman said. It seeks long-term growth by investing primarily in domestic companies with market capitalization of less than $1 billion.

No more than 20% of its investments may be in foreign stocks and at least 65% of its stocks must be in the small-cap category.

It is managed by Pamela Milunovich, who was previously co-portfolio manager of the $700 million Salomon Brothers Investors Fund.

Small Cap Growth is part of the Salomon Brothers Investment Series, composed of 11 open-end funds for retail investors. Salomon Brothers Asset Management manages $27 billion of assets for institutional and private investors.

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