London-based asset manager Jupiter has launched a new US small and midcap fund for Robert Siddles.

London-based asset manager Jupiter has launched a new US small and midcap fund for Robert Siddles.

The Jupiter US Small & Midcap Companies Fund is a UCITS-compliant unit trust, and will invest in a portfolio made up primarily of quoted US small- and medium-sized companies, Jupiter said in a satement.

Siddles will select stocks from around 3,000 US small companies with a market capitalisation ranging from £100 million ($168.7 million) to £5 billion. The fund will typically hold between 50 and 75 stocks.

Siddles has 27 years of experience covering US equities as a fund manager and joined Jupiter in January 2014 from F&C, where he managed over £500 million in assets including the F&C US Smaller Companies Investment Trust, now the Jupiter US Smaller Companies Investment Trust.

Core holdings will typically consist of companies Siddles believes will be able to reliably grow their earnings over long periods. Other holdings will generally be made up of trading stocks which are held for short-term recovery, typically over two to three years. These are stocks where the share price has fallen significantly, making them attractive.