Jensen Investment Management, investment advisor to The Jensen Portfolio mutual fund, has rolled out its second mutual fund, the Jensen Value Fund.

The fund employs a value investment strategy with stocks selected from Jensen's current universe of quality companies, the firm said.

The investment strategy underlying the new Jensen Value Fund applies various quantitative factors on a quarterly basis to a select universe of US companies each with a minimum market capitalization of $1 billion.

"We have devoted our efforts over time to investing in quality growth companies," noted Robert Zagunis, Chairman of the investment committee at Jensen Investment Management. "While deeply researching our universe of companies, it became apparent that a value-oriented strategy could also be developed which, we believe, will offer shareholders diversification benefits,” Zagunis said.

The Jensen Value Fund may also be purchased through fund platforms including Charles Schwab OneSource, Fidelity FundsNetwork, TD Ameritrade and Pershing.

Jensen Investment Management is located in Lake Oswego, Oregon. As of March 31, 2010, total assets under management for Jensen Investment Management exceeded $3.5 billion.