Grandeur Peak Emerging Markets Opportunities Fund
The Fund's investment objective is long-term growth of capital.
The Fund invests primarily in small- and micro-cap companies domiciled in emerging or frontier markets. Under normal market conditions, the Adviser will invest at least 80% of the Fund’s assets in equity securities (including common stock, preferred stock and securities convertible into common stock) of companies that are domiciled in emerging or frontier markets. Emerging and frontier markets include all countries currently excluded from the Morgan Stanley World Index of developed countries. Domicile is determined by where the company is organized, located, has the majority of its assets, or receives the majority of its revenue. The Fund will typically invest in securities issued by companies domiciled in each of at least three emerging or frontier markets. The Fund will invest the Fund’s assets primarily in companies with market capitalizations of less than $5 billion at the time of purchase. The Fund may invest a significant portion of its total assets in micro-cap companies with market capitalizations below $1 billion (up to 90% at the time of purchase under normal market conditions). The Fund may also invest a portion of its total assets (up to 35% under normal market conditions) in securities of companies with market capitalizations of greater than $5 billion at the time of purchase when the companies meet our investment criteria.
- Typical Number of Holdings: 100-175
- Small- and Micro-Cap Focus
- High quality companies
- Investment Types: Best-in-Class Growth, Fallen Angel & Stalwarts
Guardian Portfolio Manager
Monthly Performance as of , subject to change
Quarterly Performance as of , subject to change
Performance data quoted represents past performance. Past performance is no guarantee of future results and investment returns and principal value of the Fund will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. For the most current month-end performance data please visit www.grandeurpeakglobal.com.
() - Inception date of
Expense ratios as of prospectus dated are: : Gross / Net, : Gross / Net
The Advisor may absorb certain Fund expenses, without which total return would have been lower. These expense agreements are in effect through August 31, 2020. Investment returns and principal value will fluctuate and shares, when redeemed, may be worth more or less than their original cost.
Diversification does not eliminate the risk of experiencing investment loss.
Calendar Year Inception vs. Benchmark
Hypothetical Growth of $10,000
The chart shown above represents a hypothetical investment of $10,000 in the Fund’s Investor Class shares for the period from inception to . All returns reflect reinvested dividends, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. Investing in the Fund is subject to investment risks, including possible loss of the principal amount invested. The Fund also offers Institutional Class shares, performance for which is not reflected in the graphs above. The performance of Institutional Class shares may be higher or lower than the performance of the Investor Class shares shown in the graphs above based upon differences in fees paid by shareholders investing in the Investor Class shares and Institutional Class shares.
The chart shown above represents a hypothetical investment of $10,000 in the Fund’s Institutional Class shares for the period from inception to . All returns reflect reinvested dividends, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. Investing in the Fund is subject to investment risks, including possible loss of the principal amount invested.
Top 10 Holdings
Top 7 Countries
Holdings subject to change.
1 Estimated weighted average annual increase in Earnings Per Share (EPS) of the fund's holdings over the next 3 years. These returns are not guaranteed. Actual EPS growth may be higher or lower.
2 The trailing 12-month Price/Earnings (P/E) of the portfolio, calculated as a weighted harmonic average.
3 Weighted average Return on Assets (ROA) of the portfolio's holdings, calculated by dividing a company's annual returns by its total assets.
4 Operating Margin is a measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc. It is calculated by dividing Operating Income by Net Sales.
5 Debt/Equity is a measure of a company's financial leverage. It is calculated by dividing its total liabilities by stockholders' equity.
6 The average market capitalization of companies held by the fund, weighted in proportion to their percentage of net assets in the fund.
7 A measure of annual trading activity in the fund's portfolio, expressed as a percentage of the fund's average total assets.
8 The median market cap is the midpoint of market capitalization of companies held by the fund.