SMA Inception Date: 12/31/2013
Objective: Long-term capital appreciation

Why Choose This SMA?

  • As a high active share, concentrated small cap equity allocation.
  • As an alpha-generating small cap position based on strong bottom-up fundamental analysis.
  • To add a seasoned management team with the ability not only to capture upside market potential but also to protect on the downside.

Investment Strategy

  • WCM uses a bottom-up approach that seeks to identify small cap companies with attractive fundamentals, such as strong earnings power, a sound business strategy, and alignment of corporate incentives.
  • The managers seek to partner with smart capital allocators (company management) who create strong cultures, and protect/prolong the period of competitive advantage.
  • Above-average returns can only be achieved by structuring portfolios distinct from market indices. As a result, the strategy typically holds 25-40 companies, concentrated around the managers’ best ideas.
  • Initial position size ranges from 1% to 2%.
  • Full position size ranges from 3% to 6% with weightings based on assessment of valuation and quality.

Portfolio Managers

Jon Detter

Portfolio Manager and Business Analyst

Pat McGee

Portfolio Manager and Business Analyst

Anthony Glickhouse

Portfolio Manager and Business Analyst