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Introducing Wellington Global Small Companies
Exploit market inefficiencies
Small caps have limited analyst coverage and are often overlooked by institutional investors. Managers who select attractively valued companies can offer patient investors the opportunity to benefit from the illiquidity premium.
Niche market access
Small caps offer access to a vast investment universe with varied return potentials. Fundamental research to identify quality companies can provide a source of alpha.
High growth potential
Due to their size, small caps can outperform larger companies by being nimble, adapting to new technologies, and seizing opportunities to disrupt incumbents.
Meet the managers - CFS Wellington Global Small Companies
Peter Carpi
- Partner and Portfolio Manager
Peter Carpi
- Partner and Portfolio Manager
Peter is a Partner and Portfolio Manager on the North America investment approach within the CFS Global Small Companies Fund.
As an equity portfolio manager, Peter manages equity assets on behalf of our clients, drawing on research from Wellington Management’s global industry analysts, equity portfolio managers, and team analysts.
Peter earned his MBA from Stanford University (2005) and his BSE in electrical engineering from the University of Pennsylvania (Moore, 2000). Additionally, he holds the Chartered Financial Analyst designation.
Peter is based in the Boston Wellington headquarters.
“A combined team of dedicated North America specialists, and global sector specialists with over 20 years of average industry experience, gives us the scale, coverage, and expertise to identify the most compelling small cap opportunities.”
David DuBard
- Partner and Portfolio Manager
David DuBard
- Partner and Portfolio Manager
David is an equity portfolio manager on the Emerging Companies Team. He manages equity assets on behalf of our clients, drawing on research from Wellington Management’s global industry analysts, equity portfolio managers, and team analysts. He currently manages the Emerging Companies and Micro Cap approaches. He works in our Boston office.
Prior to joining Wellington Management in 1992, David worked in the research department at Morgan Keegan and Company, analyzing energy, bank, and airline equities.
David earned his MBA, with a concentration in finance, from the University of Pennsylvania (Wharton) and his BA in economics and business administration from Rhodes College. Additionally, he holds the Chartered Financial Analyst designation and is a member of the CFA Society Boston
"Within North America, the strategy leverages deep market expertise and a long-standing track record of identifying next-generation companies with strong fundamentals. This disciplined, bottom-up approach focuses on pairing high-quality companies with lower risk profiles. The team’s extensive history in small-cap investing supports a consistent methodology for uncovering high-conviction ideas across the region."
Mary Pryshlak
- Partner and Portfolio Manager
Mary Pryshlak
- Partner and Portfolio Manager
Mary is the head of Investment Research, an investment group comprised of our core fundamental investment research teams spanning equity; credit; macro; technical; sustainable; and environmental, social, and corporate governance (ESG). In this role, she oversees the department and focuses on ensuring that we attract, retain, and motivate world-class securities analysts and investment talent; provide them with the resources, support, and ongoing feedback needed to excel; and undertake our work with a fiduciary mind-set and collaborative spirit in order to make informed investment decisions on behalf of our clients.
Mary leads a management team responsible for more than 100 professionals who directly manage client assets, conduct in-depth research, and provide investment recommendations for portfolio managers and analysts across the firm. She is a member of Wellington’s Compensation Committee, Equity Review Group, Hedge Fund Review Group, and Investment Platform Governance Committee and also serves on the New Partner Advisory Committee.
Prior to being named head of Investment Research, Mary was the director of Global Industry Research and previously spent 13 years as a global industry analyst covering property & casualty insurance stocks. Prior to joining the firm in 2004, she was an equity analyst covering financial services at The Boston Company. Before that, she worked as an analyst at State Street Global Advisors and held positions at Aeltus Investment Management Company and Spears.
Benzak Saloman and Farrell. Mary received her BA in economics and French from Rutgers College. She also holds the Chartered Financial Analyst designation and is a member of the Association of Insurance and Financial Analysts (AIFA), the CFA Institute, and the CFA Society Boston.
"Globally, the strategy is driven by analysts who have built their careers within specific sectors—bringing deep, specialised insight to identifying standout companies across international markets. Their sector-first lens means they are focused on business fundamentals and long-term potential, not geographic boundaries. This structure enables the strategy to surface differentiated opportunities in under-researched areas of the global small-cap universe."
Why invest in small caps?
The fund boasts three distinguishing features:
Deep research resources
Global collaboration between US-focused experts and global industry analysts, supported by the broader Wellington platform, including ESG, credit, macro, and multi-asset investment professionals.
Diversified exposure
Diversification across alpha streams helps reduce tracking error and the cyclicality of relative returns from significant industry, geographic, and/or style tilts without impacting upside return potential.
Differentiated approach
The portfolio has a lower asset-weighted market cap compared to the benchmark, with greater exposure to smaller companies with a market cap under US$2billion
.
Summary
Access a diversified portfolio of smaller companies from around the world.
Independent, collaborative, and research-integrated with a global presence.
Often overlooked by institutional investors, providing specialist managers with an information advantage.
Extensive investment management capabilities across various assets.
Useful for diversifying a portfolio across different economies and sectors.
Backed by 800+ investment professionals globally with an average of 17 years of experience.
Historically, global small caps have experienced greater returns despite higher volatility.
Proven track record of delivering exceptional investment results, managing AUD $1.9 trillion across 66 countries.1
Fund facts
FSF5068AU
To provide long-term capital growth from a diversified portfolio of predominantly smaller listed global shares. To outperform the MSCI World Small Cap Net Index, over rolling three-year periods before fees and taxes.
MSCI World Small Cap Net Index
At least 7 years
400-450
14 March 2025
$25,000 AUD
Half-Yearly
Management fee1
0.99% p.a.
0.10% p.a.
Resources
You can see the Wellington Product Disclosure Statement (PDS) here.
You can also find the Target Market Determination (TMD) for Wellington Global Small Companies fund – Class A here.
You can find out where to invest with our platform availability matrix.
We're here to help
Get in touch
For adviser services contact us 8:30am - 6pm (Sydney time) Monday to Friday.
FirstTech: 9am - 5:30pm Monday to Friday.
Adviser use only
Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the responsible entity and issuer of Wellington Management Global Small Companies fund. Information on this webpage is provided by CFSIL. It may include general advice but does not consider anyone’s individual objectives, financial situation, needs or tax circumstances. You can find the target market determinations (TMD) for our financial products at www.cfs.com.au/tmd, which include a description of who a financial product might suit. You should read the relevant Product Disclosure Statements (PDSs), Information Memorandum (IM) and Financial Services Guides (FSG) before making any recommendations to a client. The PDSs, IM and FSG can be obtained from www.cfs.com.au or by calling us on 13 18 36.