Australian small caps are well positioned for the year ahead — and this reporting season reinforced why.
In this video, Phillip Hudak breaks down the key themes from reporting season including where positive surprises emerged, why mission-critical software businesses proved their resilience against the AI narrative, and why the team remains constructive on the smaller end of the market going forward.
With Australian small caps trading at a ~15–20% discount to large caps and superior earnings growth expected through FY26 and into FY27, the opportunity set looks attractive.
Disclaimer
This video is prepared and issued by Maple-Brown Abbott Limited ABN 73 001 208 564, AFSL 237296 (‘MBA’) as the Responsible Entity of the MBA Australian Small Companies Fund (ARSN 658 552 688 ) (‘Fund’) . This video contains general information only, and does not take into account your investment objectives, financial situation or specific needs. Before making any investment decision, you should seek independent financial advice. This video does not constitute an offer or solicitation by anyone in any jurisdiction. Past performance is not a reliable indicator of future performance. Neither MBA, nor any of its related parties, directors or employees, make any representation or give any guarantee as to the return of capital, performance, any specific rate of return, or the taxation consequences of, any investment. Any views expressed on individual stocks or other investments, or any forecasts or estimates, are not a recommendation to buy, sell or hold, they are point in time views and may be based on certain assumptions and qualifications not set out in part or in full in this video. These individual stocks referred to may or may not be currently held by the Fund. Information derived from sources is believed to be accurate, however such information has not been independently verified and may be subject to assumptions and qualifications not described in this document. To the extent permitted by law, neither MBA, nor any of its related parties, directors or employees, make any representation or warranty as to the accuracy, completeness, reasonableness or reliability of this information, or accept liability or responsibility for any losses, whether direct, indirect or consequential, relating to, or arising from, the use or reliance on this information. Before making a decision whether to acquire, or to continue to hold an investment in the Fund, investors should obtain and consider the current PDS and Target Market Determination (TMD) or any other relevant disclosure document. For the Fund, the PDS, AIB and TMD are available at maple-brownabbott.com/document-library or by calling T +61 2 8059 767. This information is current as of 5 March 2026 and is subject to change at any time without notice. © 2026 Maple-Brown Abbott Limited.
BBus, CFAPhillip Hudak joined Maple-Brown Abbott in April 2022 as Co-Portfolio Manager for Australian Small Companies, bringing over 24 years’ investment experience, with 15 years dedicated to Australian small cap equity portfolio management and fundamental stock research. In his current role, Phillip is responsible for leading the Australian small companies equity business, focusing on medium-term earnings delivery combined with a differentiated market-leading sustainability framework which is designed to outperform in most market environments.Before joining Maple-Brown Abbott, Phillip worked as Co-Portfolio Manager on the AMP Capital Australian Emerging Companies Fund for nine years. Prior to that, he was a small companies analyst at ING Investment Management, analyst at MIR Investment Management and an investment consultant with Russell Investment Group.
Phillip
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