Grandeur Peak Funds

Our Funds


Grandeur Peak Emerging Markets Opportunities Fund (GPEOX/GPEIX)


Fund Facts
Style: Emerging Markets Small/Micro Growth
Status: Hard Close*
Inception: 12/16/2013
Total Net Assets: $402.3 Millionas of 10/20/2016
Investor Class
Symbol: GPEOX
CUSIP: 31761R 302
Net Asset Value: $10.99as of 10/20/2016
Expense Ratio1: Gross 1.81% / Net 1.81% as of 08/31/2016
Minimum Investment: $2000/$100 UTMA
Institutional Class
Symbol: GPEIX
CUSIP: 31761R 401
Net Asset Value: $10.94 as of 10/20/2016
Expense Ratio1: Gross 1.56% / Net 1.56% as of 08/31/2016
Minimum Investment: $100,000


A portfolio of our favorite equities in emerging and frontier markets, with a strong bias towards small and micro cap companies. The portfolio has flexibility to adjust its investment mix by market cap, country, and sector in order to invest where we believe the best opportunities currently exist. Expected to typically have 100-175 holdings.

Fund Managers

Mr. Stewart is a portfolio manager on the Emerging Markets Opportunities and International Opportunities Funds. He plays a lead role in covering South and Southeast Asia. Mr. Stewart spent four years at Wasatch Advisors and five years at small cap boutique Sidoti & Co. before joining Grandeur Peak in 2011. Mr. Stewart is the son of Wasatch Advisors founder, Sam Stewart.

Mr. Walker is a portfolio manager of the Emerging Markets Opportunities, Global Stalwarts, International Opportunities and International Stalwarts Funds. Mr. Walker is a guardian portfolio manager of the Global Micro Cap Fund, Global Reach and Global Opportunities Fund. He plays a lead role in covering Western and Southern Europe and Canada. Mr. Walker is Canadian and a veteran manager who has been investing globally in small and micro cap companies since 2001. Mr. Walker ran the Wasatch International Opportunities Fund ('05-'11) and co-managed the Wasatch Global Opportunities Fund ('08-'11).

Guardian Portfolio Manager

Mr. Gardiner is a portfolio manager of the Global Micro Cap Fund and Global Opportunities Fund and a guardian portfolio manager on all other Grandeur Peak Funds. He plays a lead role in covering the United Kingdom. Mr. Gardiner is a distinguished portfolio manager who has been managing micro and small cap portfolios since 1986, including the Wasatch Micro Cap Fund ('95-'06), Wasatch Small Cap Value Fund ('97-'01), and Wasatch Global Opportunities Fund ('08-'11).

Why We Started This Fund

Through our travels around the world visiting companies we find a tremendous number of high quality, growing, and underfollowed small/micro cap companies in emerging and frontier markets. We believe these markets are positioned to be the fastest growing segment of the global economy over the coming decade, and small and micro cap companies are in a unique position to leverage the tremendous expected growth in the middle class. Yet, few investors in these markets are looking at small and micro cap companies.

*Closed to all investors, except existing investors with an established automatic investment plan and/or an established position in a retirement account.

1Grandeur Peak Global Advisors, LLC (the "Adviser"), has agreed to waive and/or reimburse fees or expenses in order to limit Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement (excluding acquired fund fees and expenses, brokerage expenses, interest expenses, taxes and extraordinary expenses) to 1.95% and 1.70% of the Fund’s average daily net assets for the Fund’s Investor Class Shares and Institutional Class Shares, respectively. This agreement (the "Expense Agreement") is in effect through August 31, 2017. The Adviser will be permitted to recover, on a class-by-class basis, expenses it has borne through this agreement to the extent that the Fund’s expenses in later periods fall below the annual rates set forth in this agreement or in previous agreements. Notwithstanding the foregoing, the Fund will not be obligated to pay any such deferred fees and expenses more than three years after the end of the fiscal year in which the fee and expenses was deferred. This agreement may not be terminated or modified prior to this date except with the approval of the Fund’s Board of Trustees.

CFA is a trademark owned by the CFA Institute.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. Click the link to obtain a Grandeur Peak Emerging Markets Opportunities Fund Prospectus, Grandeur Peak Global Micro Cap Fund Prospectus, Grandeur Peak Global Opportunities Fund Prospectus, Grandeur Peak Global Reach Fund Prospectus, Grandeur Peak Global Stalwarts Fund Prospectus, Grandeur Peak International Opportunities Fund Prospectus, or Grandeur Peak International Stalwarts Fund Prospectus, which contain this and other information, or call 1.855.377.PEAK (7325). Read the prospectus carefully before investing.

Important Risks

Mutual fund investing involves risks and loss of principal is possible.

Investing in small and micro cap funds will be more volatile and loss of principal could be greater than investing in large cap or more diversified funds.

Investing in foreign securities entails special risks, such as currency fluctuations and political uncertainties, which are described in more detail in the prospectus. Investments in emerging markets are subject to the same risks as other foreign securities and may be subject to greater risks than investments in foreign countries with more established economies and securities markets.

Investing in foreign and smaller companies risks may increase the volatility of the funds and the potential loss of principal.

Grandeur Peak Funds are distributed by ALPS Distributors, Inc. (ADI). Separately Managed Accounts and related investment advisory services are provided by Grandeur Peak Global Advisors, a federally regulated Investment Advisor. ADI is not affiliated with Grandeur Peak Global Advisors.

© 2011-2016 Grandeur Peak Global Advisors, LLC. All rights reserved.