News & Research
The Metis team is active in investment research, responsible for numerous industry and academic publications on global markets and investor behavior. Because our investment process seeks to take advantage of, rather than succumb to, deep-rooted behavioral biases, we have a keen interest in better understanding behavioral and structural effects on global markets. We believe this knowledge will make for a more disciplined and thoughtful investment approach, as well as contribute to the evolution of such topics within the broader investment community.  All members of the investment team are also active contributors to the Brandes Institute.

Metis Global Partners (“Metis”) is delighted to announce the appointment of Tom Mulligan as Director-Business Administration, a new position at the firm.

“The firm has grown significantly since its founding in 2013, and the creation of this role is a direct result of the firm’s success in attracting institutional clients, and the need to continue to provide best-in-class operational and client service capabilities. “—Machel Allen, President of Metis Global Partners

As Director-Business Administration, Tom Mulligan will take on a number of responsibilities that until now have been shared among the Metis team. These include managing the operational and financial aspects of the business, as well as compliance reporting, personnel, and business systems. With Tom’s strong background in distribution, he will also help support the Metis marketing and client service activities.

Tom has worked in the asset management business for over twenty years, including management roles at Brandes Investment Partners and Allianz Global Investors. He is a CFA charterholder and an MBA, and brings to Metis a broad and deep knowledge of all aspects of the asset management business.

Metis is a women and minority employee-owned investment firm based in San Diego, CA. The firm manages global, international, and emerging market equity portfolios across a capitalization range that spans micro-cap to large cap. Metis is a bias-averse value investor, combining fundamental and quantitative disciplines.

Metis Global Partners is looking for talented individuals for the following full time positions at our San Diego, CA office:

Research Analyst

This self-starting analyst will work in close collaboration with the current investment and product management teams. Primary responsibilities will include financial statement analysis and validation, corporate action analysis and recommendations, new valuation factor development, and project based research projects. Additionally the analyst will research and write topical pieces for outward facing value add research to our clients and prospects, and be responsible for regular portfolio commentary. The analyst should have a sound understanding of fundamental industry drivers globally with the ability to identify anomalies as well as communicate findings to internal business partners and clients, prospects and consultants. The analyst should have experience with CapIQ and/or Factset. A long-term, value oriented view point is a must, as well as the desire to participate in the growth of an institutional investment firm.

Job Description – Research Analyst

On Thursday, May 19, Machel Allen will be one of four speakers to lead the second annual Alpha Seeking Women Panel Event hosted by the New York Society of Security Analysts (NYSSA). NYSSA is the New York City chapter of the CFA Institute as well as a premier financial services trade group and provider of professional education.


For more information, please visit the NYSSA Alpha Seeking Females event website.

Metis has been selected as subadvisor to the ALPS Metis Global Micro Cap Mutual Fund, one of the first mutual funds to enable U.S. investors to invest in micro cap stocks worldwide. A press release from ALPS Holdings Inc. (“ALPS”) is provided at the link below. ALPS is a leading mutual fund distributor, partnering with independent asset managers as subadvisors to funds that ALPS distributes to their clients.

Metis Global Partners manages a broad range of global and international equity portfolios spanning the size spectrum from large cap through micro cap (typically under $750 million). We believe that given the liquidity of the micro cap segment, the availability of a fund vehicle may be particularly helpful for investors.

Read ALPS Press Release

Join us in discussing current influences on global markets and behavioral investing, core elements of our investment process and ongoing research efforts. In this 3rd Quarter 2015 edition of our quarterly distribution, we investigate:

  • What happened to value?  Recent growth vs. value performance in the context of their historic relationship, and an observation of some of the valuation outliers it has created.
  • Emerging markets, don’t panic!- A look at these often volatile, yet incredibly resilient markets, and how a number of macro events have played out through the lens of value investing.
  • The Behaviorists’ Corner—In times of volatility, loss related fears can grip even the most seasoned investor and be a costly behavior.  We share studies that explore and quantify the impact of loss aversion.

Finally, don’t miss the Metis Firm Update section at the end to get current on all the great things happening at the firm. As always we look forward to your thoughts and welcome new ideas.


Read Metis Newsletter 3Q2015 Edition

We are pleased to share Metis’ 2nd Quarter 2015 newsletter. Global markets and behavioral investing are at the core of our investment process and ongoing research efforts, and we want to share our current views and research with you. In this edition we discuss:

  • Global valuation dispersion (currently at levels similar to the market peak of 2000), and the potential implications it has for value investors;
  • The world of international small caps- why an all-country approach to this exciting space is so important; and
  • The Behaviorists’ Corner–Studies that quantify the impact of investor overreaction, and why awareness of this particular behavioral bias is key to successful value investing.

Finally, don’t miss the Metis Firm Update section at the end of the newsletter to get current on all the great things happening at Metis.

Read Metis Newsletter 2Q2015 Edition.

Machel Allen Speaking at The NASP Institute June 15th

On Monday, June 15th, Machel Allen will be emceeing at The NASP Institute event which takes place as part of the National Association of Securities Professionals’ (NASP) 26th Annual Pension and Financial Services Conference. The NASP Institute is a robust educational forum exclusively for members of the pension plan, foundation, and endowment community.

For more information, please go to the NASP 25th Annual Pension and Financial Services Conference website.

Improving Economy, Strong Dollar Put MicroCap Equities In The Spotlight

Machel Allen is quoted in the March 27, 2015 issue of Money Management Intelligence discussing why institutional investors should be looking at opportunities in the global micro-caps space and the challenges to increasing institutional awareness of this unique asset class.

Read full article here.

We are happy to introduce our new quarterly newsletter which will feature topics including where we are finding value in global markets, strategy highlights, behavioral investing topics, and current events at Metis. In addition to these quarterly sections, be on the look-out for special topics and collaboration with our research partners and industry guests. Our goal of this newsletter is not only to keep you informed of our views and research, but also to identify new and value-add research happening at the intersection of global markets and behavioral investing.

In this inaugural newsletter issue, we review the -44% 3-month fall in oil prices in the context of history and what it potentially portends about the direction of global equity markets. The decline in oil prices has perhaps been felt deepest in Russia, a country mired by a multitude of other concerns. We observe reasons for contrarians to take interest in both developments. While difficult to endure, volatile periods like these often generate the greatest opportunities for those that can remain patient and long-term focused.

Read full newsletter here.

Metis is a proud co-sponsor of the 2015 Diverse Investor Forum ~ West, “In Search of Alpha and Best Execution”

The 2015 Diverse Investment Forum – West, “In Search of Alpha and Best Execution”, is an exclusive by-invitation only event for endowment, foundation and corporate investment professionals. In additional to Metis serving as a co-sponsor to this event, Machel Allen joined a panel of diverse managers with unique skill sets and asset class domain knowledge to discuss how their respective investment strategies are generating alpha in the current market environment. The Forum was held on March 31 at the Federal Reserve Bank of San Francisco and featured prominent speakers such as Emmett Carson, CEO, Silicon Valley Community Foundation; Joel Wittenberg, CIO, W.K. Kellogg Foundation; and George Zinn, Treasurer, Microsoft.

Emerging Manager Monthly Research Center, October 2014

Of the 20,000 stocks globally with market caps greater than $50M, 60% are micro caps. In the October 2014 issue, Emerging Manager Monthly recounts the recently released white paper in which the Brandes Institute and Metis Global Partners collaborate to explore the potential benefits of investing in global micro-cap stocks.

Read full article here

Machel Allen Comments on International Micro-Caps in Foundation & Endowment Money Management

The size and relative inefficiency of the international micro-cap marketplace make it a compelling bet for nonprofits according to industry experts. As outlined by the Foundation & Endowment Money Management in its October, 2014, this may, however, be an overlooked segment of global markets. President & CIO of Metis, Machel Allen, CFA, discusses with industry colleagues potential benefits, risks, and considerations investors should weigh when considering international micro cap stocks. “This is a dream universe for active, value investors…” quotes Allen.

Read full article here

Metis Speaking at NASP 25th Annual Conference on June 24th

On Tuesday, June 24th, Machel Allen will be speaking at the National Association of Securities Professionals’ (NASP) 25th Annual Pension and Financial Services Conference on the topic of “The World Economy in Transition: A Look at Emerging Markets.” This workshop will look at the impact of recent volatility on investments in emerging markets and will update the current status of Brazil, India, Indonesia, South Africa and Turkey, collectively known as “the Fragile Five.” Panelists will consider the impact of emerging markets on developed markets and will identify countries that provide the most attractive opportunities.

For more information, please go to the NASP 25th Annual Pension and Financial Services Conference website.

Systematic Team Spins Out of Brandes Investment Partners

The systematic investment team at Brandes Investment Partners has spun out as Metis Global Partners. Metis Global Partners officially launched on Nov. 4 with the collaborative strategic support of Brandes, which will be a minority stakeholder in the San Diego, Calif.-based firm.
The majority women and African American-owned firm is led by President and CIO Machel Allen, who spent more than 10 years at Brandes. She said the discussions to spin out the team into its own firm began in 2011 after the systematic team launched a global micro-cap strategy.

Read full article here

Metis Global Partners created from Brandes’ Quantitative Research Team

New, Independent Firm Focuses on Global Niche Strategies

San Diego; November 4, 2013 – Brandes Investment Partners, L.P., today announced a strategic partnership with a newly created independent entity dedicated to systematic global and international equity portfolio management.

The new company, Metis Global Partners, LLC (Metis), is an independent, employee- and woman/minority-owned firm focused on niche-market small- and micro-cap offerings.

Read full article here

Considerations for Integrating Global Micro-Cap Stocks into a Portfolio

Global micro-cap stocks can serve as an active component of existing equity allocations or, due to their unique characteristics, may have a role in alternatives allocations alongside potential hedge fund and private equity investments. In a continuation of “The Next Thing Could be Really Small”, the Brandes Institute and Metis Global Partners collaborate to explore several options for incorporating global micro-cap stocks into investor portfolios. Read the abstract.

The Next Big Thing Could Be Really Small: An Introduction to Global Micro-Cap Stocks

Global micro-cap stocks have provided greater diversification benefits and a more robust long-term value premium than small- and mid- to large-cap stocks. In this research report, the Brandes Institute and Metis Global Partners collaborate to explore the potential benefits of investing in global micro-cap stocks. Read the abstract.

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