Grandeur Peak Funds

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Grandeur Peak International Opportunities Fund (GPIOX/GPIIX)

The International Opportunities Fund focuses on identifying best-in-class small and micro cap companies outside of the U.S.

Fund Facts
Style: International Small/Micro Growth
Status: Hard Close
Inception: 10/17/2011
Total Net Assets: $804.9 Million as of 10/30/2014
Investor Class
Symbol: GPIOX
CUSIP: 317609378
Net Asset Value: $3.40as of 10/30/2014
Daily % Change: 0.00% as of 10/30/2014
Expense Ratio1: Gross 1.66% / Net 1.66% as of 08/31/2014
Minimum Investment: $2,000 / $1,000
Institutional Class
Symbol: GPIIX
CUSIP: 317609352
Net Asset Value: $3.41as of 10/30/2014
Daily % Change: 0.00% as of 10/30/2014
Expense Ratio1: Gross 1.42% / Net 1.42% as of 08/31/2014
Minimum Investment: $100,000

Description

An equities portfolio focused on small and micro cap companies outside of the United States. Investments will include companies based in developed foreign countries and emerging/frontier markets. The portfolio has flexibility to adjust its investment mix by country and sector in order to invest where we believe the best small/micro cap opportunities currently exist. Expected to typically have 125-175 holdings.

Fund Managers

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.

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.

Why We Started This Fund

We had previous experience managing an international small/micro cap growth fund. Through our travels around the world visiting companies we continue to find a tremendous number of high quality, growing, and underfollowed small/micro cap companies abroad. We believe this is the single most interesting segment of the global equities landscape for the coming decade.

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

1 Grandeur 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 Reimbursements (excluding acquired fund fees and expenses, brokerage expenses, interest expenses, taxes and extraordinary expenses) to 1.75% and 1.50% 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 a 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 fees and expenses were 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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