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For Institutional Investors in the US

Global Small Cap

Invests in small companies listed globally, seeking long-term capital growth by identifying good quality but potentially undervalued stocks.

Overview

About this Strategy

The strategy aims to deliver capital growth by investing in small companies listed globally. We believe that if a portfolio of good-quality, high-return smaller companies is created, at a time when their value is underappreciated by the market, over the longer term there is greater potential to outperform. This outperformance should come from the individual company’s ability to reinvest excess earnings/cashflows into higher return opportunities.

Investment Approach

Global approach, localised team
Experienced lead manager drawing on regional managers, with local expertise and critical insights across the US, Europe, Japan and Asia.

Stock selection
Dispassionate screening approach combined with qualitative fundamental research to identify the most attractive stock opportunities in the largest and least efficient equity universe in the world.

Balanced style and regional exposure
Reduces factor risk, allowing the strategy the potential to outperform in a variety of market conditions.

Portfolio Management

Nick Sheridan
Nick Sheridan

Portfolio Manager

Industry since 1986. Joined Firm in 2009.

Performance

RETURNS (%) (As of 09/30/2024)
Composite Gross Composite Net MSCI World Small Cap NR
 
3M YTD 1YR 3YR 5YR Since Inception
(09/01/2019)
Composite Gross 10.28 22.00 37.16 9.85 17.01 17.02
Composite Net 9.88 20.78 35.42 8.11 14.99 15.01
MSCI World Small Cap NR 9.39 11.02 24.87 2.20 8.99 9.28
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars unless otherwise stated. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.
For a complete list of holdings as of the most recently available disclosure period, contact us.
RETURNS (%) (As of 09/30/2024)
Composite Gross Composite Net MSCI World Small Cap NR
 
3M YTD 1YR 3YR 5YR Since Inception
(09/01/2019)
Composite Gross 10.28 22.00 37.16 9.85 17.01 17.02
Composite Net 9.88 20.78 35.42 8.11 14.99 15.01
MSCI World Small Cap NR 9.39 11.02 24.87 2.20 8.99 9.28
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars unless otherwise stated. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.
For a complete list of holdings as of the most recently available disclosure period, contact us.
Calendar Year Returns (%)
Composite Gross Composite Net MSCI World Small Cap NR
2023 2022 2021 2020
Composite Gross 28.37 -18.33 24.83 22.52
Composite Net 26.97 -20.05 22.15 20.07
MSCI World Small Cap NR 15.76 -18.76 15.75 15.96
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars unless otherwise stated. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
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