Maxim makes portfolio management, strategy changes to two funds

By Toni Weeks

San Diego, Dec. 27 - Maxim Series Fund, Inc. announced changes to the principal investment strategy and portfolio management of two of its funds, according to a 497 filing with the Securities and Exchange Commission.

Effective Feb. 22, the Maxim Ariel Small-Cap Value Portfolio will invest, under normal conditions, at least 80% of its net assets plus the amount of any borrowings for investment purposes in a diversified portfolio of equity securities of small capitalization companies.

Previously, at least 80% of the fund's net assets were invested in the securities of issuers classified in the small or medium/small capitalization quintiles of the Russell 3000 index.

In addition, Timothy Fidler and Matthew F. Sauer were added in August 2011 as portfolio co-managers for the Maxim Ariel MidCap Value Portfolio, joining lead portfolio manager John W. Rogers, Jr.

The funds' investment adviser is Greenwood Village, Colo.-based Maxim Capital Management, LLC.

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