TCW International Small Cap Strategy

Marketable Securities Division

The strategy combines industry specific research with bottom-up company analysis to assemble a portfolio of promising small companies.

At-A-Glance

AUM or Committed to Management

$19.2 Million (as of 09/30/18)

Investment Vehicles and Minimums Separate Account $10 Million

International Small Cap Fund  $2,000

Investment Team

  • Ray S. Prasad, CFA
  • Andrey Glukhov, CFA
Strategy Information
Product Name 1-mo 3-mo YTD
Annualized Performance
1-yr
3-yr 5-yr Since Inception
[01/01/2004]
TCW (Gross) -1.38% -1.39% 1.65% 10.21% 13.89% 8.03% 10.34%
TCW (Net) -1.47% -1.64% 0.89% 9.10% 12.76% 6.95% 9.11%
MSCI AC World ex USA Small Cap Net Index -1.23% -1.51% -4.41% 1.86% 11.24% 6.14% 8.58%
as of 09/30/2018 (updated quarterly)

Click Here for detailed Performance Disclosures 

Investment Objective and Philosophy 

TCW International Small Cap seeks long-term capital appreciation. The strategy invests at least 80% of its net assets in equity securities of small capitalization companies that are domiciled outside the United States or whose primary business operations are outside the United States.

For the purposes of this strategy, small capitalization companies are defined as those with a market capitalization of $6 billion or less at the time of investment including members of the MSCI World Ex USA Small Cap Index. Equity securities include common and preferred stocks; securities convertible into common or preferred stocks such as convertible bonds and debentures; rights or warrants to purchase common or preferred stocks; American Depository Receipts (ADRs); Global Depository Receipts (GDRs); and other securities with equity characteristics.

Performance Returns

as of 09/30/2018 (^ Annualized Performance updated quarterly)

Legal Disclosures


The source for all charts and tables above is TCW
Objective Disclosure

There can be no assurance that this strategy will be able to achieve its objectives.

Index Disclosure

The index or indices cited herein are unmanaged groups of securities often taken as representative of those segments of the overall market and assume no reduction for fees and expenses in measuring returns. The securities in the index or indices may be substantially different from those in the strategy.

About Portfolio Values and Holdings

Portfolio characteristics and holdings are subject to change at any time. It should not be assumed that an investment in the securities listed was, or will be, profitable.

About Performance
Performance for any period not ending on a calendar quarter end is subject to adjustment at quarter end for accounts that are not present for the entire quarter. Past performance is no guarantee of future results.

This material is for general information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. Any issuers or securities noted in this document are provided as illustrations or examples only, for the limited purpose of analyzing general market or economic conditions and may not form the basis for an investment decision, nor are they intended to serve as investment advice. Any such issuers or securities are under periodic review by the portfolio management group and are subject to change without notice. TCW makes no representation as to whether any security or issuer mentioned in this document is now in any TCW portfolio. TCW, its officers, directors, employees or clients may have positions in securities or investments mentioned in this publication, which are subject to change without notice. Any information and statistical data contained herein derived from third party sources are believed to be reliable, but TCW does not represent that they are accurate, and they should not be relied on as such or be the basis for an investment decision. All information is as of the date of this presentation unless otherwise indicated.

An investment in the strategy described herein has risks, including the risk of losing some or all of the invested capital. An investor should carefully consider the risks and suitability of an investment strategy based on their own investment objectives and financial position. There is no assurance that the investment objectives and/or trends will come to pass or be maintained. The information contained herein may include preliminary information and/or “forward-looking statements.” Due to numerous factors, actual events may differ substantially from those presented herein. TCW assumes no duty to update any forward-looking statements or opinions in this document. This material comprises the assets under management of The TCW Group, Inc. and its subsidiaries, including TCW Investment Management Company LLC, TCW Asset Management Company LLC, and Metropolitan West Asset Management, LLC. Any opinions expressed herein are current only as of the time made and are subject to change without notice. The investment processes described herein are illustrative only and are subject to change. Past performance is no guarantee of future results. © 2018 TCW

Investment Team

  • Photo: Ray S. Prasad, CFA
    Ray S. Prasad, CFA
    Managing Director

    Mr. Prasad is a Portfolio Manager for the TCW Emerging Markets and International Equities Groups. Prior to joining TCW in 2014, Mr. Prasad was the Director and Senior Portfolio Manager for emerging markets equities at Batterymarch Financial Management. In that capacity, he managed the investment process and co-led the emerging markets team. At Batterymarch, he was also a member of the investment strategy and research leadership team, which oversaw all investment products. Before Batterymarch in 1996, he worked in strategic planning at Modi-Revlon Inc. and at J. Walter Thompson. Mr. Prasad holds an MS in Finance from Boston College, an MBA from the Indian Institute of Management, and a BA (with Honors) in Mathematics from St. Stephen’s College in New Delhi, India. He is a CFA charterholder.

  • Photo: Andrey Glukhov, CFA
    Andrey Glukhov, CFA
    Managing Director

    Mr. Glukhov is a Co-Portfolio Manager for the TCW Emerging Markets and International Equities Groups. Prior to joining TCW in 2011, Mr. Glukhov spent over a decade in sell side equity research focusing on Internet and enterprise software, most recently as a Managing Director at Brean Murray, Carret & Co. Mr. Glukhov holds a BA in International Business from Peter the Great St. Petersburg Polytechnic University in Russia and an MBA from the University of Texas at Dallas. He is a CFA charterholder.

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