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
7 person team with an average of 15 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

Portfolio Manager - London

Consumer, Energy, Utilities, Financials

22 Years' Industry Experience

Claus Roller, CFA

Information Technology, REITS - London

29 Years' Industry Experience

Nakaba Minai

Japanese Small Caps - Tokyo

23 Years' Industry Experience

Samantha Pandolfi, CFA

Healthcare - London

19 Years' Industry Experience

Allen Mayer, CFA

Industrials, Materials - London

7 Years' Industry Experience

Steven Reece

Consumer - London

7 Years' Industry Experience

Jared Allen, CFA

Financials - Boston

*The team is supported by one equity research associate

6 Years' Industry Experience



MSCI World ex-US Small-Cap Index