Kirr Marbach & Co., one of the state's few home-grown mutual funds, has been honored by Lipper Inc. for having the best multi-cap core fund out of 647 funds over a three-year period.
The recognition, received Thursday at the annual U.S. Lipper Fund Awards ceremony in New York City, was for Kirr Marbach Partners Value Fund, which had a three-year return of 18.7 percent through Nov. 30.
That compares with an 11.2-percent performance for the Standard & Poor's 500 index.
Columbus-based Kirr Marbach picks stocks that are typically out of favor. Its portfolio also includes firms in post-bankruptcy or in corporate restructuring–and spin-offs.
The company has about $488 million in assets under management.
Morningstar Inc. ranked the performance of Kirr Marbach’s fund second among 315 competitors this year. The fund placed first for its cumulative return during the past three years.
In April 2011, national financial newsletter Emerging Manager Monthly selected the fund as manager of the year in its category.
The other Indiana funds are The Archer Funds and the Auer Growth Fund, both based in Indianapolis.