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White Papers

The case for microcap investing

Microcap investing has historically seen less demand due to its lower capacity and lack of natural style box. However, investors are warming to the benefits of microcap, in particular its higher return potential paired with multiple benefits in an asset allocation framework. We believe microcap has a compelling value proposition, and investors interested in the space would be well suited to consider key questions in picking a manager. In this paper, we discuss the main arguments for microcap investing as well as our preferred approach. In addition, we cover the key concepts to consider when selecting microcap managers.


Thomas Lettenberger, CFA, Portfolio Manager, Disciplined Equities; David Corris, CFA, Portfolio Manager, Disciplined Equities; Christopher Jenks, CFA, Client Portfolio Manager, Disciplined Equities

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