FUND OVERVIEW
Through the Bellamont BCI Global Small-Cap Fund, South African investors gain access to the Wasatch Global Small-Cap strategy, a high conviction portfolio designed to capture long-term earnings growth in high quality small-cap companies worldwide.
Managed in partnership with Wasatch Global Investors, a 100% employee owned firm founded in 1975, the strategy reflects nearly five decades of dedicated small-cap expertise, deep fundamental research and a collaborative investment culture.
Grounded in the belief that stock prices are ultimately driven by sustained earnings growth, the team seeks exceptional businesses with strong cash flows, high returns on capital, low debt levels, capable management and durable competitive advantages within large and growing markets.
The portfolio typically holds 50–80 globally diversified small-cap companies representing Wasatch’s highest conviction ideas selected through systematic screening, bottom-up analysis and disciplined valuation oversight.
Rather than tracking benchmarks, the strategy aims to deliver alpha through thoughtful stock selection, targeting consistent outperformance over a full market cycle.
Risk Profile - Aggressive
Investment Horizon - 10+ Years
Fund Inception - 29 January 2026. Strategy Inception - November 2008.
Benchmark - ASISA Global Equity Category Average
Strategy Assets Under Management - R44+ Billion
What Makes Wasatch Unique?
Nearly 50 years of singular small-cap focus, combining independent ownership with research depth and long-term conviction.
Small-Cap Specialists Since 1975
This specialisation has created deep institutional knowledge, refined processes and an enduring competitive edge in an asset class often overlooked or misunderstood.
Earnings Growth as the North Star
The philosophy is simple: over time, stock prices follow earnings growth. Wasatch seeks high-quality, long-duration growth companies capable of compounding earnings over many years.
Research Depth and Global Reach
Extensive due diligence is central to the process. In 2025 alone, the research team visited 25 countries, completed over 400 on-site company visits and conducted more than 800 face-to-face management meetings.
Collaborative Culture
Wasatch believes culture is a sustainable competitive advantage. Investment decisions are shaped by multiple experienced professionals, not a single portfolio manager.
High Conviction, Active Positioning
The Global Small Cap strategy represents a “best of Wasatch” portfolio, selecting the firm’s highest-conviction ideas from its broader small-cap research platform.
The WASATCH Investment Process
The strategy seeks to deliver alpha through disciplined stock selection within the global small-cap universe, typically companies below $5 billion in market capitalisation at the time of purchase. By focusing on under researched businesses worldwide, the objective is to achieve more than 200 basis points of net outperformance (after fees), annualised over a full market cycle.
Wasatch believes long-term stock prices are driven by sustained earnings growth. The process is designed to identify high quality, long duration growth companies capable of compounding value over time. Every investment must demonstrate four defining characteristics:
Strong Financial Quality
Consistent free cash flow, high returns on capital, low debt levels and transparent governance, supported by valuations that are reasonable relative to long-term growth prospects.
