ESG Themes for 2023
February 2, 2023 | Global Alpha Capital Management
For this week’s commentary, we take a look at green CAPEX, including benefits and relevance.
Emerging Markets Small Cap
Objective
Added Value: MSCI Emerging Markets Index (net) +3%
per year over a full market cycleTracking Error: 4% – 8% per year over a full market cycle
Portfolio Turnover: 30% – 50% of names per year
Quick Facts
Inception Date:
July 30, 2021
All data as at: Dec 30, 2022
Geographic Mix
India
20.82%
Taiwan
19.78%
Korea, Republic of
13.28%
China
7.85%
Indonesia
7.11%
Mexico
6.42%
Brazil
5.81%
Thailand
3.46%
Hong Kong
3.05%
Chile
2.86%
Philippines
1.94%
United Kingdom
1.94%
Greece
1.32%
South Africa
1.27%
Saudi Arabia
1.09%
Malaysia
1.00%
Canada
1.00%
Russian Federation
0.00%
Sector Allocation
Consumer Discretionary
20.54%
Information Technology
14.36%
Financials
12.92%
Health Care
11.35%
Industrials
10.03%
Consumer Staples
9.96%
Materials
7.92%
Real Estate
6.96%
Utilities
2.70%
Communication Services
1.34%
Energy
0.99%
Cash
0.93%
Contact Us
For additional information on the Global Alpha International Small Cap Strategy please contact:
Brent Wilkins
Senior Vice President,
Head of Institutional Sales,
Canada
Tel: +(416) 364-5396
Email: [email protected]
Eric Hasenauer
Senior Vice President,
Co-Head of Institutional Sales,
USA
Tel: +(917) 945-0960
Email: [email protected]
John Ricketts
Senior Vice President,
Co-Head of Institutional Sales,
USA
Tel: +1 (203) 615-4847
Email: [email protected]
Carlos Stelin
Director,
Institutional Sales,
Europe
Tel: +44 (0)203 535 8107
Email: [email protected]
Insights
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What’s the deal with EM small cap
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We shine a light on emerging market small caps, looking at the characteristics and make up of this often misunderstood asset class.
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We examine what happened in the European energy sector in 2022 and look ahead to 2023.
Strong and steady for 2023
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In this commentary, we look ahead to investment considerations in 2023, including resilience, strong balance sheets, and positive industry trends.
Regional Spotlight: Taiwan
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Our team recently traveled to Taiwan to meet with companies in a range of sectors. We discuss their findings and thoughts on the island nation.
Our thoughts for 2023
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We look ahead to 2023, focusing on what we expect to see in the U.S. economy.
Time to visit Japan
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We examine factors contributing to Japan’s projected growth in the coming year.
It’s all marketing
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We discuss the importance of market research and the overall marketing expenditures in a context of an economic slowdown.
Small cap is back: 7 reasons to buy small caps in a recession
November 17, 2022 | Global Alpha Capital Management
We discuss historical performance of small caps in the 1970s, and why now is the time to increase exposure to small cap.
Keep calm and carry on
November 10, 2022 | Global Alpha Capital Management
We discuss recent events in the UK and impacts on the markets.
Are Semiconductors the new oil?
November 3, 2022 | Global Alpha Capital Management
We look at recent changes affecting the semiconductor industry, chip exports and wafer fabrication.
What goes up must come down or find its ground
October 27, 2022 | Global Alpha Capital Management
We highlight one commodity set to benefit from its role as the critical metal of the energy transition.
Demography & Destiny
October 20, 2022 | Global Alpha Capital Management
We discuss the influence demographics has on everything from politics to sociology to economic growth, and highlight two emerging market giants – China and India.
India: Our EM Queen
October 13, 2022 | Global Alpha Capital Management
India has been our best market for our Emerging Markets Small Cap Portfolio year-to-date and since inception. In this week’s commentary, we explore the main reasons for this outperformance and provide two stock examples that have been good investment cases.
Corporate succession planning
October 6, 2022 | Global Alpha Capital Management
We discuss CEO and senior management turnover and transition.