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KF-SMCAPD: Global Small Stocks with Big Growth Potential
Krungsri Global Small–Mid Cap Equity Dividend Fund (KF-SMCAPD)
An opportunity to access an active investment portfolio focused on small-cap companies with strong growth potential through the master fund, Goldman Sachs Global Small Cap CORE Equity Portfolio. The strategy leverages data-driven insights to build a differentiated, high-conviction portfolio. This comes at a time when earnings of small-cap companies are robust and expected to grow faster than large caps this year, while valuations remain attractive. It also provides access to global long-term growth trends from a different angle than large-cap stocks, such as AI, clean energy, metals & mining, and aerospace & defense—sectors supported by ongoing global uncertainties.
Source: Goldman Sachs Asset Management, as of 28 Feb 2026 | For presentation purposes only. No assurance that the stated objectives will be achieved.
Attractive Features of the Master Fund
1. Potential for Outperformance through Quantitative Investing
- The global small-cap universe offers over 7,500 companies across more than 25 countries. Compared to large caps, information on small-cap companies is less accessible.
- The master fund aggregates data from diverse sources and applies advanced analytics, including Machine Learning and AI, to generate multiple investment perspectives—resulting in a distinctive and actively managed portfolio.
Source: Goldman Sachs Asset Management, as of 31 Dec 2025 | For presentation purposes only. No assurance that the stated objectives will be achieved.
2. Investment Process Based on Key Selection Factors
- Quality businesses: Focus on companies with strong fundamentals and the ability to deliver earnings above market expectations.
- Attractive valuation: Identify mispriced opportunities using a combination of valuation metrics to assess intrinsic value.
- Long-term themes & trends: Capture overlooked investment themes and invest in companies poised to benefit.
- Market sentiment analysis: Monitor views of key market participants toward companies under consideration.
Source: Goldman Sachs Asset Management, as of 31 Dec 2025 | For informational purposes only. Not research, investment advice, or recommendation. No assurance that objectives will be achieved. The above information does not reflect binding ESG characteristics under the EU Sustainable Finance Disclosure Regulation (SFDR) (EU) 2019/2088, which may be amended from time to time.
Portfolio Allocation of the Master Fund
The fund invests across multiple countries globally and diversifies across various sectors, including materials, information technology (IT), healthcare, and consumer discretionary. It maintains an overweight position in small-cap equities in the U.S. and Europe (excluding the UK). In 2026, key investment themes will focus on opportunities in the AI supply chain, energy security, and critical minerals within the small-cap segment.
Source: Goldman Sachs Asset Management, as of 28 Feb 2026 | For illustrative purposes only. Not indicative of future performance. Sector classification based on GICS.
Performance of the Master Fund
Source: Goldman Sachs Asset Management, as of 31 Mar 2026 | Benchmark: S&P Developed SmallCap Index | Peer group: Morningstar Global Small/Mid-Cap Equity | Returns are net of fees with dividends reinvested | Performance shown is that of the underlying fund and does not comply with local mutual fund performance standards.
Investment Policy: KF-SMCAPD
- Invests, on average, at least 80% of NAV in the master fund, Goldman Sachs Global Small Cap CORE Equity Portfolio.
- Dividend policy: At least once per year, not less than 10% of net profit/retained earnings. The fund reserves the right not to pay dividends if the calculated dividend is less than THB 0.25 per unit
- Risk level: 6 (High Risk) | FX hedging at the fund manager’s discretion
- Minimum investment: THB 500
Tel: +66 2 657 5757 (press 2) | Email: krungsriasset.mktg@krungsri.com or Bank of Ayudhya PCL./ Selling agents.
Disclaimer
- This document is based on sources believed to be reliable as of the stated date. However, the Company cannot guarantee the accuracy, reliability, or completeness of the information and reserves the right to change it without prior notice.
- The fund may hedge foreign exchange risk at the manager’s discretion and is therefore exposed to FX risk, which may result in gains or losses, or investors receiving less than the initial investment.
- Investors should understand the product characteristics, return conditions, and risks before investing. Past performance is not indicative of future results.
