Small Cap Fund
Characteristics
- Market Cap <$2.5 Billion
- Fundamental Research on Industries & Economy
- Analysis of Company-Specific Factors (i.e. product cycles, management)
- Rigorous Valuation Screening
Strategy
All of the Buffalo equity mutual funds follow a common strategy. The first step involves the identification of fundamental trends that we believe will play out over the next three to five years. These trends must be well defined and measurable. The second step consists of identifying the companies that can potentially benefit from the continuation of these trends. Finally, a valuation and business model analysis of each company is performed. This includes fundamental analysis which focuses on firms that we believe can either sustain or grow their profit margins, have a solid management team, and have the financial strength to weather difficult economic environments.
Investment Team
 |
 |
 |
The Buffalo Small Cap Fund is managed by a team of investment professionals at Kornitzer Capital Management (KCM). The management team consists of Kent Gasaway, CFA (left), and Robert Male, CFA (center) and Grant Sarris, CFA (right).
Mr. Gasaway joined KCM in 1991, and serves as a Portfolio Manager. Previously, Mr. Gasaway spent 10 years with the Waddell and Reed mutual funds group and has over 27 years of investment experience. He holds a B.S. in Business Administration from Kansas State University. Mr. Male joined KCM in 1997, and is also a Portfolio Manager. Previously, Mr. Male was an equity securities analyst with USAA Investment Management Co. and Waddell & Reed mutual fund groups. He has over over 21 years of investment experience. He holds an M.B.A. from Southern Methodist University and a B.S. in Business Administration from the University of Kansas. Mr. Sarris joined KCM in 2003 as a Portfolio Manager. He holds a B.A. from the University of Wisconsin and an MBA from the University of Minnesota. Prior to joining KCM, he was with Waddell & Reed in Overland Park, Kansas for 12 years. He has over 17 years investment experience.