Grandeur Peak Global Micro Cap Fund
The Fund's investment objective is long-term growth of capital.
The Fund invests primarily in foreign and domestic micro-cap companies.
Under normal market conditions, the Adviser will invest at least 80% of the Fund’s assets in equity securities of foreign and domestic companies with market capitalizations of less than $1 billion at the time of purchase.
The Fund will invest a significant portion of its total assets in securities issued by companies that are economically tied to countries outside the United States. The Adviser generally considers a company to be economically tied to a market based on where the company is organized, headquartered, has its primary stock exchange listing, or has substantial concentration of assets or revenues. The Fund may invest a significant amount of its total assets in securities issued by companies economically tied to emerging and frontier market countries. Emerging and frontier markets are those countries currently excluded from the MSCI World Index of developed markets.
The Adviser uses a process of quantitative screening of the financial trends and health of each company in its investment universe, followed by “bottom up” fundamental analysis to identify growth companies that it believes to be best-in-class among their global peers. This fundamental analysis generally includes studying the company, its industry, and its competitors, as well as talking with the management team. The Adviser seeks to evaluate each company’s long-term potential and sustainability, which includes understanding its approach to environmental, social and governance issues. The Adviser travels extensively to visit companies, when it is considered safe to do so, and generally expects to talk with senior management.
The Fund may invest in early stage companies and Initial Public Offerings (IPOs). The Fund may also invest in growth companies that the Adviser believes have hit a temporary setback and therefore have a particularly appealing valuation relative to their long-term growth potential.
The Adviser invests in what it believes to be the best investments available without regard to benchmark weightings in regions, countries or industries. The Adviser may significantly shift Fund assets between asset classes, sectors and geographic regions based on where it believes the best growth opportunities and valuations currently exist. The Fund may invest a significant percentage of its assets in a few sectors or regions.
- High quality growth companies in the micro- to small-cap space
- Feeder strategy for team
- Developed, Emerging and Frontier Markets
- Targeting companies in the $50-500 million market cap range
- Companies less than $1B market cap at time of purchase
- Investment Types: Best-in-Class Growth & Fallen Angels
- Around 100-130 holdings
- Dedicated team of portfolio managers with support from full Research team
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
The Advisor may absorb certain Fund expenses, without which total return would have been lower. These expense agreements are in effect through August 31, 2022. 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.