Investment Overview

The Eaton Vance International Small-Cap Strategy offers exposure to a broadly diversified portfolio of high quality, international small cap companies.

Investment Philosophy

We focus on three definable inputs - Quality, Valuation, and Time (QVT). Our focus on quality drives a preference for well entrenched franchises with durable and scalable business models, typically benefitting from either structural growth (compounders) or structural change (improvers). We believe a disciplined combination of quality in a reward-to-risk framework with a long-term mind-set can uncover sources of alpha in the broad and inefficient small cap universe.

Investment People

Depth, expertise & location
6 person team with an average of 18 years experience located in Boston, London, and Tokyo
Supported by the broader Eaton Vance equity group, with over 501 investment professionals
Analyst-driven process within a collaborative culture
High levels of accountability, with distinct lines of responsibility.
1Portfolio managers, analysts, and traders including US and Global/International Equity team members.


Bottom-up, in-depth fundamental analysis
Structured to implement our philosophy in a disciplined and repeatable reward-to-risk framework
Portfolio exercises ensure team ownership, encourage collaboration, and test biases
Ensures all research adds value – working list, wish list, research library
Clearly defined portfolio construction and risk management parameters

Portfolio Construction

Clearly defined portfolio construction
120 – 150 holdings2
Quality/core bias
Alpha driven by bottom-up stock selection
Positioned for capital preservation in addition to capital appreciation
2The number of securities/holdings indicated is the current range typically associated with this type of account and will vary depending on account size, client parameters and market conditions prevailing at the time of investment.

Investment Team

Aidan Farrell

Managing Director, Head of Non-US Small/Mid Cap

Consumer, Energy, Utilities, Financials

Joined investment management industry in 1996

Claus Roller, CFA

Information Technology, REITS - London

Joined investment management industry in 1994

Samantha Pandolfi, CFA

Healthcare - London

Joined investment management industry in 2000

Allen Mayer, CFA

Industrials, Materials - London

Joined investment management industry in 2012

Steven Reece

Consumer - Boston

Joined investment management industry in 2012

Jared Allen, CFA

Financials - Boston

Joined investment management industry in 2013



MSCI World ex-US Small-Cap Index