Small & Mid-Caps

Our investment focus is on small and medium sized market capitalisation companies (SMC). Our measure of size is relative. For each territory we rank companies by market capitalisation, so a mid cap company in a more developed market may be equivalent to a small cap company in another market. Typically however, small cap companies are those up to USD 180 mn in size and mid cap companies are up to USD 300 mn in size

WHY SMCs?

75% of listed companies are not covered by sell-side research.

1

SMCs are typically under-covered and under-research by both institutional and retail investors within the region.

For example as of 2015 Thailand, Indonesia and the Philippines -1,000 companies are not covered by sell-side research

2

The dearth of coverage on SMCs demonstrates the inefficiencies and mispricing of assets

Thailand

Indonesia

Philippines

Not Covered

Covered

Creating A Wealth Of Ongoing Growth Opportunities

Each year, several companies progress from small cap status to mid or large cap status, and from mid cap status to large cap status. We identify these growth companies, which provide an ongoing source of investment opportunities.

Small to Mid

Small to Large

Mid to Large