1. Investment expertise
  2. Small and mid caps
Investment expertise

Small and mid caps

Exploiting strong growth potential with market leading companies

Small and mid caps

We believe that a well-curated portfolio of high-quality small and mid-cap (SMID) businesses has the potential to deliver above-average returns over the medium to long term.

By employing a meticulous "bottom-up" stock selection methodology, we follow a "Quality At a Reasonable Price" (QARP) investment style. This means investing in businesses of exceptional quality while ensuring that we do not overpay for them. We place a strong emphasis on companies that meet our high-quality threshold, which includes factors such as financial strength, consistent profitability, and a robust commitment to environmental, social, and governance (ESG) principles. We also actively seek out mispriced stocks within this sector, identifying companies whose current market value does not reflect their quality.


Our investment philosophy revolves around identifying superior small and mid-cap companies that possess sustainable competitive advantages and consistently generate above-average returns on capital. Our approach focuses on evaluating investment merit based on prospects, quality, and valuations.

The SMID segment presents an exciting opportunity as it is relatively under-researched. It provides access to well-established companies with strong fundamentals, including a solid market share, healthy margins, and stable/predictable profits, all at reasonable prices.

We believe that SMID cap markets are much less efficient compared to broader equities. One primary reason for this is the significantly lower level of analyst coverage among SMID caps relative to large caps. As long-term investors, we capitalise on these inefficiencies, frequently finding compelling investment prospects that offer attractive returns through a combination of valuation rerating and earnings compounding.

Global SMID Cap definition and investable universe


Sector exposure (outer ring) / Country exposure (inner ring)

UBP's investment specialist and fund selector, Cédric Le Berre, talks with Ned Bell, CIO of Bell Asset Management, about the benefits of partnering with UBP and the momentum he sees in global small- and mid-cap equities:

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Senior Analyst

Cédric Le Berre

Cédric has more than 13 years’ experience in fund research and is responsible for representing our range of external managers. He is specialized in US and Japanese equities.

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Generating consistent returns with SMID caps

Our investment specialist and fund selector Cédric Le Berre talks with Ned Bell, CIO of Bell Asset Management, about the benefits of partnering with UBP and the momentum he sees in global small and mid-cap equities.

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Institutional clients

With a team of more than 200 people, UBP Asset Management has built an on-the-ground presence in the world’s major markets through organic growth and selected partnerships.

Our fund range


View all our funds.

Insight 21.05.2024

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