Voya Small Cap Growth Fund (TCMSX) is an open-end mutual fund that seeks long-term capital appreciation by investing at least 80% of its net assets in equity securities of small-cap growth companies, defined as those with market capitalizations consistent with the Russell 2000 Growth Index at the time of purchase. The fund offers institutional Class I shares with a minimum initial investment of $250,000, an adjusted expense ratio of 0.91%, and a portfolio turnover rate of 103%; it maintains a diversified portfolio of approximately 107 holdings, with top allocations including technology firms such as ExlService Holdings Inc., Globant SA, and Rambus Inc., alongside industrials like FTAI Aviation Ltd. and consumer cyclical companies like Champion Homes Inc. and Churchill Downs Inc.
Managed by Voya Investment Management Co. LLC, a subsidiary of Voya Financial, Inc., the fund targets institutional and retail investors seeking exposure to high-growth small-cap equities across sectors including technology, financial services, industrials, and consumer cyclical; as of early 2025, it oversees total assets of approximately $1.3 billion and operates primarily in the U.S. market.
Originally launched on September 29, 2004, as the TCM Small Cap Growth Fund by Tygh Capital Management (TCM) in Portland, Oregon, the fund underwent a major reorganization following Voya Investment Management's acquisition of TCM's investment advisory business and related assets, which closed in January 2022; this transaction integrated TCM's small-cap growth team, including key managers like Mitchell Brivic, into Voya, enabling seamless continuity while rebranding and reorganizing the fund into its current Voya structure by mid-2022. No significant partnerships, funding rounds, new product launches, or further operational changes have been reported in the last 1-2 years.