Our main global portfolios concentrate on the largest capitalisation stocks, generally well over $10bn – the average market capitalisation of companies whose shares we hold is typically US$60-70bn. However, we frequently find interesting and undervalued companies that are smaller than we would buy in the main global portfolios. The Smaller Companies portfolios are the home for such ideas.

The portfolios are managed by Harry Fraser, who joined us from Herald Investment Management, a small cap specialist, in August 2011. He began working closely with Nigel Waller on the fund since then and, from 1st January 2012, has taken over the day-to-day management of the fund. The portfolios will continue to be managed with the same philosophy to that of others at Oldfield Partners – concentrated and index ignorant, with the usual emphasis on valuations.

Investments in small and mid-sized companies tend to carry a higher general level of risk than investments in large companies and these portfolios invest in companies as small as a few hundred million dollars. In addition, we do not limit exposure to emerging markets as we do in our main global portfolios.

For more detailed information on our Smaller Companies equity portfolios including the performance history, you need to access the password protected area of this website.

Further detail on the performance history, newsletters and information about the portfolios we manage are contained in the restricted section of this website.To request the password, CLICK HERE and follow the instructions.