Toronto-based Langdon Equity Partners has launched the Langdon Global Smaller Companies Fund – Ucits, offering UK and European investors access to its high-conviction small cap strategy.
The fund brings Langdon’s concentrated global smaller companies strategy to investors across the UK and several European markets. The fund holds a portfolio of 25–40 listed small companies in developed markets and targets long-term outperformance of the MSCI World Small Cap Net Index.
Since its inception in June 2022, the firm’s Australian-domiciled Global Smaller Companies Fund has delivered annualised returns of 14.3% after fees—outperforming the MSCI World Small Cap Index by 7.8% and the broader MSCI World Index by 1.0% over the same period.
Based in Toronto, Canada, Langdon Equity Partners was founded in 2022 by Greg Dean, a former partner and portfolio manager at Cambridge Global Asset Management. The firm focuses on global and Canadian small cap investing and has expanded to a five-person investment team managing over US$300 million.
Long term Ucits net sales hit post-2021 high
The launch of the Ucits fund marks a milestone for the boutique, supporting its ambition to grow its international footprint and bring its investment approach to a wider audience. “We are excited to offer our proven strategy to UK and European investors who are seeking differentiated exposure to high-quality small caps globally,” said Dean.
“The establishment of a London office and the launch of a Ucits Fund are both a natural extension of our global investment strategy, one that has continued to develop in both scale and sophistication,” said Greg Dean, Langdon’s founder and lead investor. “Our growing presence in the region unlocks important access to investment opportunities allowing us to build relationships with clients, management teams and companies more consistently than we could making 6-8 trips per year, as we have over the last decade or so.”
“Global small cap, as an asset class, was in its infancy 10 years ago when we launched this strategy at my predecessor firm. We saw it as a fruitful hunting ground to exploit and we believe we have proven skilled at extracting alpha from the large and inefficient universe of listed companies under US$10B, while delivering strong absolute returns. Our portfolio will be positioned in companies that we believe have strong fundamentals and will continue to deliver cashflow growth of 10-15% per share over the cycle. We also believe combining global small caps with either global large caps or regional mandates may improve diversification and enhance long-term returns.”
