Cortina Asset Management has expanded its range of products with the launch of the Cortina Small Cap value strategy and the Cortina SMID Value strategy, which will be led by a new team of recruits.

Both will be operating out of the New York office, led by a team headed by Alexander Yaggy. Yaggy latterly co-managed the Morgan Stanley/Van Kampen Small Cap Value and Morgan Stanley Small-Mid Value funds, which when combined total $2 billion in assets under management.

Also joining the company are Andrew Storm, who also used to work with Morgan Stanley, and John Clausen, who previously worked for the mutual series group within Franklin Templeton Investments.

Cortina has around $2 billion in AuM.