Our microcap strategy targets superior returns and long-term capital growth by investing in undervalued, high quality emerging companies that are in their early stages of rapid growth. Since inception, our strategy has outperformed by investing in emerging themes such as digital transformation, ageing populations, and shifts in the energy sector.
Outsized returns
We focus exclusively on identifying emerging Australian microcaps that we believe can harness new thematics or participate in new markets, creating significant opportunities for long-term growth.
Highly researched
Our process leverages a broader team of 14 Australian equities investment professionals. This depth of insight brings a sharper focus, uncovering mispriced companies that can substantially outperform.
Rigorous risk management
We apply a disciplined, extensive due diligence process that’s focused on preserving capital and minimising downside risk. ESG considerations are integral to this process.
| Gross Performance 30 November 2024 |
% per month | % per annum | since inception %p.a1 |
||||
|---|---|---|---|---|---|---|---|
| 1 | 3 | 1 | 3 | 5 | 10 | ||
| Yarra Microcap Equities Strategy | -2.14% | 2.06% | 24.66% | 2.07% | 10.59% | 14.57% | 14.77% |
| S&P ASX Small Ordinaries Accumulation Index | 1.32% | 7.29% | 19.88% | -0.08% | 4.60% | 7.66% | 6.73% |
| Relative Return | -3.45% | -5.24% | 4.78% | 2.14% | 5.99% | 6.92% | 8.04% |
Monthly Commentary
Quarterly Commentary
Annual Report
CHART
| Net Performance 30 November 2024 |
% per month | % per annum | since inception %p.a1 |
||||
|---|---|---|---|---|---|---|---|
| 1 | 3 | 1 | 3 | 5 | 10 | ||
| UBS Microcap Fund | -2.24% | 1.87% | 22.75% | 0.40% | 8.24% | 12.27% | 12.28% |
| S&P ASX Small Ordinaries Accumulation Index | 1.32% | 7.29% | 19.88% | -0.08% | 4.60% | 7.66% | 6.73% |
| Relative Return | -3.55% | -5.43% | 2.87% | 0.47% | 3.64% | 4.62% | 5.55% |
Monthly Commentary
Quarterly Commentary
Annual Report
How we invest
We believe that microcap companies are typically under-researched, under-invested and undervalued, leading to inefficient market pricing. Identifying these mispriced quality companies can be a large source of outperformance. Our active, style-neutral approach to portfolio construction supports our investment objectives to deliver through market cycles.
Thinking ahead
We invest in companies with proven business models that ensure they’re well positioned to build market share and expand into new markets, geographies or verticals.
Under the microscope
Our team conducts over 2,500 meetings each year with companies, customers, suppliers, regulators and industry experts to develop differentiated analysis and insights.
Navigating the universe
With a singular focus, our microcap specialists have deep experience in a complex sector and proven success identifying the rising stars in a universe of more than 500 companies.
Investment summary
Inception Date
August 2014
No. of Holdings
Generally 35-65
Investment Horizon
Long term (5-7+ years)
APIR Code
UBS0057AU
Investment summary
Inception Date
August 2014
Management Fees
By negotiation
No. of Holdings
Generally 35-65
Investment Horizon
Long term (5-7+ years)
Portfolio Manager
Microcap Equities
Joel Fleming
Our Microcap Strategy has delivered strong outperformance since its inception in 2014.
Managed by Yarra since 2018, this strategy is available through the UBS Australian Small Companies Fund
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Additional information
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For more information on how to invest in this Fund, please contact your financial adviser.
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