International Small Cap

The Civil War Railroad Bridge

Riverfront; Richmond, VA

The Civil War Railroad Bridge

Riverfront; Richmond, VA

About International Small Cap

Investment Objective

The International Small Cap team seeks to provide a return that outperforms the MSCI EAFE Small Cap Index, net of our management fee, over a full market cycle.

Investment Overview

International Small Cap Equities are a fascinating asset class marked by exceptional diversity, notable growth prospects, and frequent neglect from large investment managers. TSW’s International Small Cap strategy applies a bottom-up, fundamental approach to investing. We seek stocks having a combination of three characteristics: mispriced shares relative to our estimate of intrinsic value, identifiable catalysts for positive change and upside potential that meaningfully exceeds downside risk over an 18- to 36-month time horizon.

Investment Process

TSW employs a disciplined investment process

Read More

Strategy Highlights

Repeatability: a tenured team executing a consistently applied process

A tenured team with over a decade of averaged experience working together

A time-tested approach

  • Bottom-up, fundamental process
  • Searching for mispriced stocks exhibiting signs of positive change
  • Seeking favorable reward versus risk profile
  • A long-term investment horizon
ASSET CLASS / STYLE
International Equity / Value
Composite AUM
$1,377.7M
BENCHMARK
MSCI EAFE Small Cap Index
vehicles available
Separate Account
More

You are leaving TSW

You are now leaving the TSW website. This link is provided as a convenience, and Thompson, Siegel & Walmsley is not responsible for the content provided on your destination site.

Collective Trust
DST

International Small Cap Trailing Performance

As of  

June 30, 2024

Calendar year performance reflects past 10 years of data available.

Benchmark: MSCI EAFE Small Cap Index. The MSCI EAFE Small Cap Index is an equity index which captures small cap representation across Developed Markets countries around the world, excluding the U.S. and Canada. The Index covers approximately 14% of the free float adjusted market capitalization in each country. Benchmark Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Periods less than one year are not annualized. Performance represents the International Small Cap composite. Performance is shown gross and net of management fees and includes reinvestment of dividends and other income. Gross returns will be reduced by investment advisory fees and other expenses that are incurred in the management of the account. Net of fee performance was calculated using the actual management fees charged. These figures have been rounded to the nearest hundredth. Past performance is no guarantee of future results. It is not possible to invest directly in an index. Performance disclosures can be found here.

Please see Risk Disclosures for important information.

Calendar year performance reflects past 10 years of data available.

Benchmark: MSCI EAFE Small Cap Index. The MSCI EAFE Small Cap Index is an equity index which captures small cap representation across Developed Markets countries around the world, excluding the U.S. and Canada. The Index covers approximately 14% of the free float adjusted market capitalization in each country. Benchmark Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Periods less than one year are not annualized. Performance represents the International Small Cap composite. Performance is shown gross and net of management fees and includes reinvestment of dividends and other income. Gross returns will be reduced by investment advisory fees and other expenses that are incurred in the management of the account. Net of fee performance was calculated using the actual management fees charged. These figures have been rounded to the nearest hundredth. Past performance is no guarantee of future results. It is not possible to invest directly in an index. Performance disclosures can be found here.

Please see Risk Disclosures for important information.

Sector Weights

As of  

June 30, 2024

Portfolio
Benchmark
Communications Services
5.5%
3.7%
Consumer Discretionary
15.1%
12.5%
Consumer Staples
5.8%
6.2%
Energy
4.2%
3.3%
Financials
16.7%
12.4%
Health Care
6.4%
5.8%
Industrials
27.0%
23.3%
Information Technology
9.7%
10.0%
Materials
6.9%
9.4%
Real Estate
2.6%
10.6%
Utilities
0.0%
2.6%

Portfolio Characteristics

As of  

June 30, 2024

Portfolio
Benchmark
Price / Cash Flow
8.4x
8.6x
Price / Earnings (NTM)
12.2x
13.0x
Dividend Yield
3.2%
3.0%
Weighted Average Market Cap ($ Billion)
$4.3
$2.9
Median Market Cap ($ Billion)
$1.9
$1.3
Number of Stocks
112
2,118
Dollar Turnover
8.5%

Benchmark: MSCI EAFE Small Cap Index. Source: FactSet, MSCI (July 2024). Sector and region weights are run on a single account in the International Small Cap composite and, due to rounding, may not add up to 100.0%.

Benchmark: MSCI EAFE Small Cap Index. Source: FactSet, MSCI (July 2024). Characteristics are run on a single account in the International Small Cap composite and is subject to change. Turnover data reflects one-year annualized data.

Region Weights

As of  

June 30, 2024

Benchmark: MSCI EAFE Small Cap Index. Source: FactSet, MSCI (July 2024). Region weights are run on a single account in the International Small Cap composite and, due to rounding, may not add up to 100.0%.

Meet Our Team

Elliott Jones, CFA
Research Analyst
Portfolio Manager
Read More
More
Elliott Jones, CFA
Portfolio Manager - Emerging Markets; Research Analyst - Non-U.S.
2012-01-01
with the firm

Elliott is a graduate of University of North Carolina, BA and Wake Forest University, MA. He previously worked for Union First Market Bank as a Financial Services Advisor and was a Graduate Consultant at Pace Communications. He holds the Chartered Financial Analyst® designation.

LinkedIn logo icon
ejones@tswinvest.com
Brandon Harrell, CFA
Portfolio Manager
Co-Portfolio Manager
Read More
More
Brandon Harrell, CFA
Portfolio Manager - International & International Small Cap
1996-01-01
with the firm

Brandon is a graduate of Wake Forest University, BA and George Mason University, MBA. He previously worked for the Central Intelligence Agency, Washington, DC as an Intelligence Officer, for Growth Stock Outlook, Inc., Bethesda as a Securities Analyst and for Capitoline Investment Services, Richmond as a Portfolio Manager. He holds the Chartered Financial Analyst® designation. He is registered as an Investment Adviser Representative. Check the background of this Investment Professional here.

LinkedIn logo icon
bharrell@tswinvest.com
Stedman Oakey, CFA
Research Analyst
Co-Portfolio Manager
Read More
More
Stedman Oakey, CFA
Portfolio Manager - International Small Cap; Research Analyst - Non-U.S.
2005-01-01
with the firm

Stedman is a graduate of the University of Notre Dame, BA. He previously worked as a Financial Analyst for AIG Global Investment Group in New York City and AIG Private Equity Ltd. in Zurich, Switzerland. He holds the Chartered Financial Analyst® designation. Stedman is currently registered as an Investment Adviser Representative. Check the background of this Investment Professional here.

LinkedIn logo icon
soakey@tswinvest.com
Aashish Chenna, CFA
Research Analyst
Read More
More
Aashish Chenna, CFA
Research Analyst
2023-01-01
with the firm

Aashish is a Research Analyst on the Non-U.S. team focusing on Emerging Markets. Aashish began his career in the investment industry in 2014. Prior to joining TSW in 2024, he worked for Newport Asia LLC as an Equity Analyst. Previously he was employed with Barclays PLC as an Associate Vice President. Aashish graduated from Indian Institute of Technology, Madras and earned his MA from University of California, Berkeley. He holds the Chartered Financial Analyst® designation and the FRM® designation.

LinkedIn logo icon
Brendan Donohoe, CFA
Research Analyst
Read More
More
Brendan Donohoe, CFA
Research Analyst - Non-U.S.
2006-01-01
with the firm

Brendan is a graduate of Radford University, BBA. Most recently, Brendan worked as a Financial Management Auditor at Virginia Auditor of Public Accounts. Formerly, he did his internship at Merrill Lynch. He holds the Chartered Financial Analyst® designation.

LinkedIn logo icon
bdonohoe@tswinvest.com
Daniel Hinchman III, CFA
Research Analyst
Read More
More
Daniel Hinchman III, CFA
Research Analyst - Non-U.S.
2007-01-01
with the firm

Daniel is a graduate of the University of Virginia, BS in Commerce. Previously, he was employed with Dominion Partners, L.C. as an Investment Banking Analyst. He holds the Chartered Financial Analyst® designation.

LinkedIn logo icon
dhinchman@tswinvest.com
Mark Tyler, CFA
Research Analyst
Read More
More
Mark Tyler, CFA
Research Analyst - Non-U.S.
2003-01-01
with the firm

Mark is a graduate of The College of William & Mary, BS. He previously worked for Priority Capital Management, LLC as a Senior Research Analyst, Wachovia Securities, Inc. as a Senior Equity Research Analyst, D.B. Root & Company, Inc. as a Portfolio Manager and Capital Asset Management, Inc. as a Research Analyst. He holds the Chartered Financial Analyst® designation.

LinkedIn logo icon
mtyler@tswinvest.com

1Investing involves risk including loss of principal. For more information pertaining to the mutual fund products above, including investment objectives, risks, charges and expenses, obtain a prospectus. Read the prospectus carefully before investing or sending money. Neither this material nor any accompanying oral presentation or remarks by a representative of the distributors is intended to constitute a recommendation of the funds or a determination of suitability for any investor. Transamerica International Small Cap Value is distributed by Transamerica Capital, Inc., which is not affiliated with Thompson, Siegel & Walmsley LLC or any other affiliate. To request a copy of the prospectus, you may call 1-866-414-6349. Only I share class tickers are shown. Contact the adviser or distributor at the links below for specific share class information.

For more information on Transamerica International Small Cap Value, visit www.transamerica.com or call 1-800-851-7555.

Data as of 06/30/2024