Founded in 2010 as a single strategy firm, Dundas is independent in both its ownership structure and in thought. The team manage ~£1.5bn* in global equities principally for institutional clients in Australia and the USA. The Heriot Global Fund and The Heriot Global Smaller Companies Fund are the UK UCITS vehicles.
- Launched: September 2021
- Objective: The Heriot Global Smaller Companies Fund is looking to outperform MSCI ACWI World Global Smaller Companies Index over the long term (5 years+)
- How? Actively managed portfolio of 60-75 stocks
- Small Cap: Median market cap $4.4bn vs. $64bn for the flagship Heriot Global Fund
Long term alpha: Global Small Caps offer a 3.6% p.a. premium to Large Caps with a further 2% p.a. from ‘Sustainable Growth Companies’**
- The same philosophy & process: Investment team ‘hunt as a pack’ to find companies participating in industries and countries with strong economic or secular growth tailwinds
- Main Focuses: Particular attention is paid to a company’s ability to generate cash and deploy it wisely, with investment in future business growth prioritised and ample capacity to pay a fast growing dividend
*As at 30/11/21
**Analysis from Ned Davis Research to show MSCI World Smaller Companies cohorts in terms of total return and the subsequent total one year total return. Companies that can growth their dividends at least for five years in a row outperform the benchmark by 2%. These stocks are the types that are added to the Heriot Smaller Companies Fund.
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