SMA Inception Date: 12/31/2014
Objective: Long-term capital appreciation

Why Choose This SMA?

  • As a high active share, concentrated international small cap equity allocation.
  • As a complement to more value-oriented international small cap strategies.
  • To add the growth potential of international small cap companies to international equity holdings.

Investment Strategy

  • WCM uses a bottom-up approach that seeks to identify companies with attractive fundamentals, such as low or no debt, rising returns on invested capital, and reasonably predictable free cash flow generation. The team focuses on assessing the trajectory of a company’s competitive advantage (“economic moat”) and the alignment of its corporate culture with this economic moat.
  • The team’s focus is on industry-leading, non-US companies led by visionary management teams with sound business strategies. These companies often dominate their industry, and the team believes they will continue that domination well into the future.
  • Above-average returns can only be achieved by structuring portfolios distinct from market indices. As a result, the strategy typically holds 50-70 companies, concentrated around the managers’ best ideas.
  • When selecting equity investments, the targeted time horizon is 3+ years.

Portfolio Managers

Sanjay Ayer, CFA®

Portfolio Manager and Business Analyst

Greg Ise, CFA®

Portfolio Manager and Business Analyst