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
Chief Executive Officer & Portfolio Manager
Mr. Walker is a portfolio manager of the Global Opportunities, International Opportunities, and Emerging Markets Opportunities Funds. He is a guardian portfolio manager of the International Stalwarts Fund. 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).
Stuart Rigby, MBA
Portfolio Manager & Sr. Research Analyst
Mr. Rigby is a portfolio manager of the Global Reach Fund and the Emerging Market Opportunities Fund. He is our primary analyst on the Technology sector. Prior to joining Grandeur Peak in 2012, Mr. Rigby spent six years in the tech industry working for two venture-backed companies as a software developer and product manager. Mr. Rigby has lived in Mexico and Spain and speaks Spanish.
Guardian Portfolio Manager
Liping Cai, CFA, MS, MBA
Portfolio Manager & Sr. Research Analyst
Ms. Cai is a portfolio manager of the Global Reach Fund and a guardian portfolio manager of the Emerging Markets Opportunities Fund. She is our primary analyst on the Healthcare sector and a key member of the team covering China, Hong Kong, and Taiwan. She joined Grandeur Peak in 2013 after six years at William Blair where she led the firm’s China-based research team. Previously, Ms. Cai spent seven years in the health care field as a research associate, market analyst, and consultant. Ms. Cai is native Chinese and speaks Mandarin and Cantonese.
Monthly Performance as of 06/30/2016
|Fund||1 Month||3 Month||YTD||1 Year||3 Year||5 Year||Since Inception||Open/Closed|
Quarterly Performance as of 06/30/2016
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.