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Invest With Us

Wasatch Frontier Emerging Small Countries Fund

Ticker WAFMX
NAV As of 12/09/19 $2.84
Daily Change As of 12/09/19 $-0.01 / -0.35%
Wasatch Frontier Emerging Small Countries Fund
Ticker WAFMX
NAV $2.84
Daily Change $-0.01 / -0.35%
TOP

Fund Overview

Objective

Long-term growth of capital

Highlights
  • Seeks the highest-quality companies in frontier and emerging small countries
  • Truly active, collaborative, bottom-up, fundamental process
  • Systematic coverage of the frontier emerging small country universe
  • Risk controlled through extensive fundamental due diligence
Investment Approach

We use a bottom-up approach that seeks to identify companies with outstanding long-term growth potential. We look for companies with:

  • Strong financials
  • A sustainable competitive advantage
  • Industry-best management teams
  • Earnings growth greater than the relevant sector or industry

Approximately 30-70 positions

Fund Managers
Scott Thomas Scott Thomas Lead Portfolio Manager
3 years on fund
7 years at wasatch
Jared Whatcott Jared Whatcott Portfolio Manager
3 years on fund
14 years at wasatch
6 Cumulative PM years on fund

We travel throughout frontier and emerging markets to find less well known, long-duration growth companies. We’re often told how rare it is to actually get a visit from potential investors.”

—Scott Thomas, Lead Portfolio Manager

Performance

Average Annual Total Returns AS OF 09/30/19 AS OF 11/30/19
Quarter-End Month-end
1 Month
3 Month
ytd
1 yr
3 yr
5 yr
10 yr
Since
Inception
Frontier Emerging Small Countries Fund
1.05%
5.47%
21.43%
18.44%
5.80%
-1.53%
N/A
5.14%
MSCI Frontier Emerging Markets Index
-0.51%
1.12%
9.11%
7.44%
6.62%
-0.45%
N/A
3.48%
MSCI Frontier Markets Index
1.37%
0.19%
13.08%
9.77%
8.58%
0.99%
N/A
6.19%

Returns for periods less than one year are not annualized. Data shows past performance and is not indicative of future performance. Current performance may be lower or higher than the data quoted. Investment returns and principal value will fluctuate and shares, when redeemed, may be worth more or less than their original cost. The Advisor may absorb certain expenses, leading to higher total shareholder returns. Wasatch Funds will deduct a 2% redemption fee on Fund shares held 60 days or less. Performance data does not reflect this redemption fee or taxes. Total Expense Ratio: Investor Class 2.31% The Advisor has contractually agreed to limit certain expenses to 2.15% through at least 1/31/2020.

Growth of Hypothetical Investment to 09/30/19
Frontier Emerging Small Countries Fund
MSCI Frontier Emerging Markets Index

The hypothetical chart does not reflect the deduction of fees, sales charges, or taxes that you would pay on fund distributions or the redemption of fund shares.

Calendar Year Returns (%) As of 12/31/18
Frontier Emerging Small Countries Fund
MSCI Frontier Emerging Markets Index

Portfolio

Characteristics AS OF 09/30/19
Fund
Index
Number of Holdings
40
145
Average Market Cap
($ Weighted)
$11.58 b
$9.54 b
Median Market Cap
$3.32 b
$2.61 b
EPS Growth (%, est. 5 yr)
19%
15%
P/E (Forward)
16
12
Portfolio Turnover (%)
62.55
n/a
Active Share (%)
88
n/a
Performance Statistics AS OF 09/30/19
5 yr
Alpha
-1.79
Beta
0.76
R-Squared
0.69
Standard Deviation
10.98
Upside Capture
68.51
Downside Capture
90.09
Top 10 Holdings AS OF 09/30/19
Company
% of Net Assets
Cleopatra Hospital
5.4%
Raia Drogasil S.A.
5.4%
MercadoLibre, Inc.
4.6%
Philippine Seven Corp.
4.3%
PT Bank Central Asia Tbk
4.2%
Commercial International Bank S.A.E
4.1%
Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B
4.0%
Safaricom plc
4.0%
Banco Davivienda S.A., 2.03%
3.5%
FPT Corp.
3.4%
40 Number of holdings
88% Active share
Sector Allocation AS OF 09/30/19
Sector
Fund
Index
Financials
41.6%
43.7%
Consumer Staples
16.4%
5.8%
Consumer Discretionary
9.8%
0.9%
Health Care
9.0%
1.4%
Industrials
8.6%
11.8%
Information Technology
8.5%
1.4%
Communication Services
4.0%
8.1%
Materials
2.4%
6.4%
Real Estate
0.6%
12.5%
Cash & Cash Equivalents*
-0.9%
0.0%
Energy
0.0%
4.6%
Utilities
0.0%
3.3%
Country Allocation AS OF 09/30/19
Fund (%)
Developed
1.3
Netherlands
1.3
Emerging & Frontier
98.7
Brazil
12.1
Egypt
11.8
Mexico
9.9
India
7.0
South Africa
6.8
Thailand
6.8
Indonesia
6.6
Other
37.7
1.3% Developed
98.7% Em and Frontier

Commentary & Literature

News & Updates

Wasatch Advisors Rebrands as Wasatch Global Investors

September 24, 2019

Salt Lake City, Utah, September 24, 2019—Independent investment manager Wasatch Advisors has…

Read More >

Distributions

Record Date
Payable Date
Income
Short-Term Gain
Long-Term Gain
Total Per Share
Reinvest Price
12/28/15
12/29/15
$ 0.004693
--
--
$ 0.004693
$ 2.690000
12/26/14
12/29/14
$ 0.015775
$ 0.011427
$ 0.035251
$ 0.062453
$ 3.090000
12/26/13
12/27/13
$ 0.005237
--
--
$ 0.005237
$ 3.080000
12/26/12
12/27/12
$ 0.002332
$ 0.000940
--
$ 0.003272
$ 2.620000
Historical Distributions and NAVs Select start and end dates
to:

Important Disclosures

Investing in small or micro cap funds can be more volatile and loss of principal could be greater than investing in large cap or more diversified funds.  Investing in foreign securities, especially in emerging and frontier markets, entails special risks, such as currency fluctuations and political uncertainties, which are described in more detail in the prospectus.

The MSCI Frontier Markets and Frontier Emerging Markets Indexes are free float-adjusted market capitalization indexes that are designed to measure equity market performance in the global frontier and emerging markets.

MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used to create indices or financial products.

You cannot invest directly in any index.

Morningstar Rating:
The Morningstar Rating for funds, or 'star rating', is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed end funds, and separate accounts) with at least a 3-year history. Exchange–traded funds and open ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10 year (if applicable) Morningstar Rating metrics. The weights are 100% 3-year rating for 36-59 months of total returns, 60% 5 year rating/40% 3-year rating for 60-119 months of total returns, and 50% 10 year rating/30% 3-year rating/20% 3 year rating for 120 or more months of total returns. While the 10 year overall rating formula seems to give the most weight to the 10 year period, the most recent 3–year period actually has the greatest impact because it is included in all 3 rating periods. The Fund was rated 2 and 1 stars against 706 and 566 funds in the category for the 3- and 5-year periods, respectively. The Fund’s other share class may have different performance characteristics. Past performance is no guarantee of future results. 2019 © Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Est. 5-year EPS Growth %: Estimated percentage increase in earnings per share (EPS) per year of the fund’s holdings over the next 5 years. Returns are not guaranteed and may be higher or lower. Source: Wasatch and FactSet. P/E Ratio (forward and trailing): Sum of stock prices of the fund’s holdings divided by the aggregate earnings per share of those holdings for the next 12 months (forward), or past 12 months (trailing), calculated as a weighted harmonic average. P/E to Growth Rate: Forward 12-month P/E ratio divided by the estimated 5-year EPS growth rate. Portfolios with a number less than 1.0 would be considered undervalued, around 1.0 would be considered fair valued and significantly greater than 1.0 would be considered overvalued. Weighted Average Market Cap: Average market capitalization of companies held by the fund, weighted by their percentage of fund net assets. Portfolio Turnover: A measure of trading activity in a fund’s portfolio over the past 12 months expressed as a percentage of the fund’s average total assets. Alpha measures a fund’s risk/reward potential. A positive alpha means the fund outperformed the index. A negative alpha means the fund underperformed the index. Beta measures a fund’s risk in relation to the market. A beta of 0.8 means the fund’s total return is likely to move up or down 80% of the market change; 1.25 means total return is likely to move up or down 25% more than the market. R-Squared measures (from 0 to 1.0) how closely a fund’s movements are correlated with movements of its benchmark. An R-squared of 1.0 would mean that the fund’s movements are completely correlated with the movements of its benchmark. Active Share measures the difference between portfolio holdings and the benchmark. It is the sum of the absolute values of the different weightings of each holding in the fund versus each holding in the benchmark, divided by 2. Standard Deviation measures the degree to which a fund’s performance has varied from its average performance over a particular time period. The greater the standard deviation, the greater a fund’s volatility (risk). Upside Capture explains how well a fund performs in time periods where the benchmark’s returns are greater than zero. Downside Capture explains how well a fund performs in time periods where the benchmark’s returns are less than zero.

Fund holdings are subject to risks and may change at any time. References to specific securities should not be construed as recommendations by the Fund or its Advisor.

Wasatch Funds are distributed by ALPS Distributors, Inc.

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