Also, this was in the AFR in late May. Maybe it has attracted...

Also, this was in the AFR in late May. Maybe it has attracted some attention although keep in mind it would take time to build up to the $200m

Australian Ethical is seeking to raise up to $200 million for a new small caps fund to be run by portfolio manager Andy Gracey.
It's understood Australian Ethical will launch the new Australian Ethical Emerging Companies Fund on July 1, which will be a spin-off from the existing Australian Ethical Smaller Companies Trust which has a 60:40 domestic small cap/large cap blend.
The new fund will target ASX-listed stocks outside the top-100, with only a small weighting available to international shares. Unlike the firm's existing smaller companies trust, there is no mandate for investing in large caps.
The new emerging companies fund is expected to be focused on the IT, healthcare and biotech sectors, which have driven returns in the firm's existing portfolio, and will be looking for local companies with the capacity to go global.

Australian Ethical has had success investing in the likes of GBST Holdings, Sirtex Medical and Fisher & Paykel Healthcare in recent years. It's also expected to forgo investments in coal, mining and other sectors ruled out under its ethical charter.
Australian Ethical is only targeting retail investors with the new fund.
The firm's smaller companies trust has returned 22.6 per cent over the past year according to Mercer figures, and 9.8 per cent over the past seven years.