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U.S. Small-Cap Core Equity Strategy

The strategy seeks long-term risk-adjusted returns through investment in high-quality, niche, small-cap U.S. companies with improving earnings and solid balance sheets available at attractive valuations.

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Philosophy

The team believes that fundamentals matter over a market cycle and that high-quality companies will provide superior risk-adjusted returns over the long term. To that end, they invest primarily in the stocks of small-cap companies with durable, niche business models that they believe are undervalued and offer the potential for high returns on capital.

 

Documents

Managed by

Bill Talbot, CFA

Senior Portfolio Manager, Head of US Small Cap Equities, U.S. Small Cap Core Team

Bill’s responsibilities include the construction of the U.S. small-cap core and value portfolios and overseeing the integrity of the research process for the small-cap equity team. He focuses exclusively on U.S. small-cap investing, and his responsibilities include fundamental and industry-level research for consumer discretionary and utilities. Prior to joining the firm, Bill spent 15 years investing in U.S. small-cap equities at UBS Global Asset Management. Previously, he invested in private debt and equity for The Travelers Companies, where he financed expansion, buyouts, recapitalizations, and spin-offs. Bill initiated some of Travelers’ earliest non-U.S. investments and represented the company on two private equity fund advisory boards. Bill holds the Chartered Financial Analyst designation.

  • Education: B.S., Trinity College; M.B.A., Dartmouth College–Tuck School of Business
  • Joined the company: 2013
  • Began career: 1986
Bill Talbot, CFA

Joseph Nowinski

Senior Portfolio Manager, U.S. Small Cap Equity Team

Joe focuses exclusively on small- and mid-cap investing, and his responsibilities include portfolio construction and fundamental research on companies in the energy, material, industrials, and real estate investment trust (REIT) sectors. Prior to joining the firm, he spent eight years with UBS Global Asset Management as both a portfolio manager and senior investment analyst. Previously, Joe spent six years with Citigroup Global Asset Management as a senior equity analyst, where his responsibilities included covering the retail, healthcare services, and REIT sectors.

Education: B.S., DePaul University

Joined the company: 2013

Began career: 1992  

Joseph Nowinski

Ryan Davies, CFA

Portfolio Manager, U.S. Small Cap Equity Team

Ryan focuses exclusively on small- and mid-cap investing, and his responsibilities include portfolio construction and fundamental research on companies in the technology and communication services sectors. Prior to joining the firm, Ryan spent nearly 14 years as a small-cap senior analyst at Cortina Asset Management, focused on technology stocks, and before that, he was an analyst at U.S. Bank and Montgomery Asset Management. Ryan began his career as an accountant at Pricewaterhouse Coopers. He holds the Chartered Financial Analyst designation.

  • Education: B.S., Accounting, Indiana University
  • Joined the company: 2018
  • Began career: 1996
Ryan Davies, CFA

Vehicles

At Manulife Investment Management, we offer investment strategies through a variety of vehicles to suit a broad range of client needs. Contact our institutional sales or consultant relations team to find out if this strategy/vehicle is offered in your region. 

  • Separate accounts

    Our separate accounts and separately managed accounts (SMAs) are designed for institutions and high-net-worth clients seeking tailored investment solutions and direct ownership of securities. 

  • CITs

    Our professionally managed collective investment trusts (CITs) are available in certain qualified retirement plans.

  • Mutual funds

    Mutual funds are liquid, professionally managed portfolios which are available to both institutional and retail investors.

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Related

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Important information

The material contains information regarding the investment approach described herein and is not a complete description of the investment objectives, risks, policies, guidelines or portfolio management and research that supports this investment approach. Any decision to engage Manulife Investment Management should be based upon a review of the terms of the prospectus, offering documents or investment management agreement, as applicable, and the specific investment objectives, policies and guidelines that apply under the terms of such agreement. There is no guarantee investment objectives will be met. The investment process may change over time. The characteristics set forth above are intended as a general illustration of some of the criteria the strategy team considers in selecting securities for client portfolios. Client portfolios are managed according to mutually agreed upon investment guidelines.

This information has been provided by Manulife Investment Management. All material is compiled from sources believed to be reliable and correct but accuracy cannot be guaranteed. This is not to be construed as an offer to buy or sell any financial instrument nor does it constitute an offer or invitation to invest in any fund managed by Manulife Investment Management and has not been prepared in connection with any such offer. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the securities and sectors listed.


References to securities, transactions or holdings should not be considered a recommendation to purchase or sell a particular security and there is no assurance that, as of the date of publication, the securities remain in the portfolio. Additionally, it is noted that the securities or transactions referenced do not represent all of the securities purchased, sold or recommended during the period referenced and there is no guarantee as to the future profitability of the securities identified and discussed herein.


The indices cited are widely accepted benchmarks for investment performance within their relevant regions, sectors or asset classes, and represent non managed investment portfolio.