The product, managed by boutique fund manager Fairview Equity Partners, was a relatively new small-cap offering that had achieved solid performance through volatile market conditions since its October 2008 inception, Zenith said.
"Fairview's investment team takes a collaborative approach to stock research and decision making, with each member providing equal input into the process," Zenith investment analyst Graeme Miller said.
"In Zenith's view, Fairview is well resourced with three senior investment professionals who are all highly experienced and have strong track records in small companies investment.
"In constructing the portfolio, the manager aims to add value predominantly through stock selection, rather than taking large top-down macroeconomic bets against the benchmark."
