Portfolio Manager Phillip Hudak, CFA, joins Dean McLelland, CFA, to share why he believes the recent resurgence in Australian small caps could extend into 2026. While some domestic tailwinds may ease, Phillip sees a broadening recovery in earnings growth and expects small companies to outperform large caps, reinforcing their investor appeal.
Compared to previous cycles, he anticipates compelling upside—not just in the magnitude of returns, but in the duration of this recovery. Improving earnings momentum, stronger market breadth and selective valuation opportunities all point to a favourable environment for active stock pickers.
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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.
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