$147 million fund manager finds bargains in small-cap stocks

Small-cap stocks have underperformed large-cap stocks for the past 10 years. So now might be a good time to look for opportunities in the former category. One possibility is Needham Small Cap Growth Fund (NESGX) . The fund has $147 million in assets, according to Morningstar. Through March 31, it produced annualized returns of 4% over the past 12 months, negative 8% over the past three years and positive 14% over the past five years, according to Needham. That performance beat the Russell 2000 Growth index of small-cap stocks for the five-year period and trailed it for one and three…