Hedge Funds

Ex-Buffalo Laming goes it alone


One of the best-known U.S. small-cap managers, Tom Laming, who made his name as one of the managers of the Buffalo Small Cap fund, has quit the $4 billion Kansas City-based mutual fund group to set up his own boutique operation, which will run hedge funds alongside long-only money.

With over $1 billion under management, his Buffalo Small Cap fund saw stellar performance. So far this year it has gained over 38% - as against the Russell 2000's rise of 29.8% - and up 10.81% over three years, a period during which the Russell has fallen 7.5%.

Laming's style is