Specialist global smaller companies investment boutique, Langdon Equity Partners (Langdon), has announced the launch of the Langdon Global Smaller Companies Fund – UCITS and the establishment of an international presence.
The firm writes that the new UCITS Fund provides investors across both the UK and several European jurisdictions with access to Langdon’s Global Smaller Companies strategy, a concentrated, high conviction portfolio of 25-40 small companies listed on developed market exchanges.
The Global Smaller Companies Strategy, which currently has USD300 million in invested assets, aims to outperform the MSCI World Small Cap Net Index. Since inception in June 2022, the Global Smaller Companies Fund (AUT) has delivered a total return of 14.3 per cent per annum after fees, outperforming the Index by 7.8 per cent per annum and the MSCI World Index by 1.0 per cent over the same timeframe.
“The establishment of a London office and the launch of a UCITS Fund are both a natural extension of our global investment strategy, one that has continued to develop in both scale and sophistication,” says Greg Dean, Langdon’s founder and lead investor. “Our growing presence in the region unlocks important access to investment opportunities allowing us to build relationships with clients, management teams and companies more consistently than we could making six to eight trips per year, as we have over the last decade or so.”
“Global small cap, as an asset class, was in its infancy 10 years ago when we launched this strategy at my predecessor firm. We saw it as a fruitful hunting ground to exploit and we believe we have proven skilled at extracting alpha from the large and inefficient universe of listed companies under USD10 billion, while delivering strong absolute returns. Our portfolio will be positioned in companies that we believe have strong fundamentals and will continue to deliver cashflow growth of 10-15 per cent per share over the cycle. We also believe combining global small caps with either global large caps or regional mandates may improve diversification and enhance long-term returns.”
Based in Toronto, Canada, Langdon Equity Partners was founded in 2022 by Dean, who previously held the position of partner and portfolio manager at Cambridge Global Asset Management. The boutique has grown to now employ five investment professionals who manage over USD300 million invested across global and Canadian small cap strategies.
Langdon is majority owned by its investment team, and is supported by multi-affiliate investment management group, Pinnacle Investment Management (PNI.AX).
