Less than a year after folding its first version of the Federated Kaufman Small Cap fund into the Federated Kaufman Fund, Pittsburgh-based Federated Investors has hit the reset button. The firm launched its new version of the $3.5 billion Kaufman fund small cap fund today.

Last January Federated said that it was merging the fund due to "disappointing performance." With the new fund, that performance will not be carried forward.

As before, Lawrence E. Auriana and Hans P. Utsch portfolio managers of the 16-year-old Kaufman fund, will comanage the Federated Kaufmann Small Cap Fund as will Aash Shah, according to Keith M. "Kim" Schappert, president and chief executive officer for all of Federated's investment advisory companies.

"Hans and Larry established their reputations as small cap growth managers in the industry with the Kaufmann Fund. Their hands-on approach and face-to-face meetings with managements, competitors, suppliers and customers gives them unique insights into a company's strengths, competitive advantages and corporate culture," said Schappert. "Creating the new Federated Kaufmann Small Cap Fund not only capitalizes on the experience of two well-known and world-class equity fund managers, it presents a more robust equity product offering for our clients and expands Federated's distribution opportunities."

The advisor-sold fund will offer A, B, and C share classes and carry a minimum investment of $1500 is required for all share classes with subsequent investments of $100. 

Correction: An earlier version of this article incorrectly identified Aash Shah. Shah is not a manager of the 16 year old Kaufmann fund. He is a manager of the newly launched Federated Kaufmann Small Cap Fund.

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