Soma was founded in 1996 by a group of brokerage houses that wanted to create a market for small-capitalization companies in Brazil.

D refers to investment in micro- and small-capitalization public companies that are raising money in private capital markets.

The Russell 2000 index of small-capitalization companies did even better, rising 3.84, or nine-tenths of a percent, to 430.89.

The Russell 2,000 index, measuring small-capitalization companies with an average market value of $205 million, is near a record high.

And the Russell 2000 index of mostly small-capitalization companies gained 1.06, or 0.27 percent, to 390.42.

Instead, the managers prefer small-capitalization companies that offer relatively strong growth on the cheap.

The Russell 2000 index of small-capitalization companies fell 3.07 points, or 0.7 percent, to 422.82.

Among small-capitalization companies that were lowered to a "sell" in the six months, the average return was 12.7 percent - double the return of the Dow.

Fletcher Asset Management makes private investments in small-capitalization public companies.

Traders said they were encouraged by the continued improvement in small-capitalization companies, which have been battered this year.