Grandeur Peak Funds

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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: $421.9 Millionas of 12/19/2014
Investor Class
Symbol: GPEOX
CUSIP: 31761R 302
Net Asset Value: $10.74as of 12/19/2014
Daily % Change: -0.19% as of 12/19/2014
Expense Ratio1: Gross 2.00% / Net 1.95% as of 08/31/2014
Minimum Investment: $2,000 / $1,000
Institutional Class
Symbol: GPEIX
CUSIP: 31761R 401
Net Asset Value: $10.72 as of 12/19/2014
Daily % Change: -0.19% as of 12/19/2014
Expense Ratio1: Gross 1.75% / Net 1.70% as of 08/31/2014
Minimum Investment: $100,000

Description

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

Blake Walker: Mr. Walker is an award-winning portfolio manager who has been investing alongside Mr. Gardiner since 2001, with a particular focus on foreign micro and small cap stocks.

Spencer Stewart: Mr. Stewart’s investment experience has focused on small & micro cap stocks since 2001.

Advising Manager

Robert Gardiner, CFA: Mr. Gardiner is a highly acclaimed portfolio manager who has been involved in managing small and micro cap equity portfolios since 1986.

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 is in effect through August 31, 2015. 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 Prospectus, which contains 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.

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