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Wasatch Global Select Strategy

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Wasatch Global Select Strategy
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Strategy Overview

Highlights
  • A concentrated, yet diversified high-conviction portfolio of 20-40 stocks
  • Seeks the highest-quality growth companies across the globe
  • Truly active, collaborative, bottom-up, fundamental process
  • Broad sector and country approach
  • Also available as a developed markets only strategy with no emerging markets exposure
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

All cap flexibility with a focus on mid-cap companies

Approximately 20-40 positions

Portfolio Managers
Ken Applegate Ken Applegate Portfolio Manager
4 years on strategy
7 years at wasatch
Paul Lambert Paul Lambert Portfolio Manager
4 years on strategy
21 years at wasatch
Linda Lasater Linda Lasater Portfolio Manager
4 years on strategy
15 years at wasatch
Mike Valentine Mike Valentine Portfolio Manager
4 years on strategy
4 years at wasatch
Quick Look
As of 06/30/21
Total Assets*
$19.0M
Mutual Fund
$19.0M
Separate Accounts
$0
Inception Date
12/19/16
Account Minimum
$10m
Primary Benchmark
MSCI AC World Index

*Total strategy assets across all vehicles and composites

Documents
Fact Sheet
Commentary
16 Cumulative PM years on strategy

We look for high-quality companies that can grow faster and longer than generally anticipated and that have the potential to become tomorrow’s leaders.”

—Mike Valentine, Portfolio Manager

Performance

Average Annual Total Returns AS OF 06/30/21 AS OF 06/30/21
Quarter-End Month-end
1 Month
3 Month
ytd
1 yr
3 yr
5 yr
10 yr
Since
Inception
Global Select Composite (Gross)
2.17%
11.58%
5.72%
36.51%
20.78%
N/A
N/A
21.34%
Global Select Composite (Net)
2.10%
11.35%
5.28%
35.40%
20.22%
N/A
N/A
20.97%
MSCI AC World Index
1.32%
7.39%
12.30%
39.26%
14.57%
N/A
N/A
14.75%

Returns for periods less than one year are not annualized. Since inception performance is calculated from 12/31/2016.

Calendar Year Returns (%) NET OF FEES (AS OF 12/31/20)
Global Select Composite
MSCI AC World Index

Performance is preliminary and subject to change. Past performance is not indicative of future results. Wasatch Global Investors is an independent registered investment advisor. Registration does not imply a certain level of skill or training. Wasatch claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of content contained herein. To receive a complete list of composite descriptions of Wasatch composites and/or a GIPS Composite Report, e-mail inforequest@wasatchglobal.com. The U.S. Dollar is the currency used to express performance.

The Global Select Composite contains fully discretionary equity accounts following the Global Select style.  The composite primarily invests in equity securities of all market capitalizations in both domestic and foreign markets, including emerging markets, with the goal of long-term growth of capital.  For comparison purposes the composite is measured against the MSCI AC World Net TR Index.

The MSCI AC World Net TR Index is an unmanaged index capturing large and mid-cap representation across 23 developed markets and 23 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.

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Portfolio

Characteristics AS OF 06/30/21
Portfolio
Index
Number of Holdings
36
2975
Average Market Cap
($ Weighted)
$26.96B
$344.03B
Median Market Cap
$17.62B
$13.45B
EPS Growth (%, est. 5 yr)
25
17
P/E (Forward)
40
18
Portfolio Turnover (%)
42.44
N/A
Active Share (%)
99
N/A
Performance Statistics AS OF 06/30/21
Since Inception
Alpha
6.54
Beta
0.94
R-Squared
0.81
Standard Deviation
15.75
Upside Capture
120
Downside Capture
85
Top 10 Holdings AS OF 06/30/21
Company
% of Net Assets
Bajaj Finance Ltd. (India)
4.1%
Pool Corp.
3.8%
Copart Inc.
3.8%
Amphenol Corp.- Cl A
3.8%
Ametek Inc
3.7%
Assa Abloy AB (Sweden)
3.7%
Icon PLC (Ireland)
3.7%
BayCurrent Consulting Inc. (Japan)
3.6%
Amadeus IT Group SA (Spain)
3.4%
Dassault Systemes SA (France)
3.4%
36 Number of holdings
99% Active share
Sector Allocation AS OF 06/30/21
Sector
Portfolio
Index
Industrials
29.3
9.9
Information Technology
25.6
21.9
Health Care
16.4
11.6
Consumer Discretionary
10.0
12.7
Financials
9.5
14.1
Consumer Staples
6.7
6.9
Communication Services
2.1
9.4
Cash & Cash Equivalents*
0.4
0.0
Materials
0.0
4.9
Energy
0.0
3.4
Utilities
0.0
2.6
Real Estate
0.0
2.6
Country Allocation AS OF 06/30/21
Portfolio (%)
Developed
86.7
United States
50.7
Japan
8.8
Sweden
3.7
Ireland
3.7
Spain
3.4
France
3.4
Italy
2.5
Other
10.6
Emerging & Frontier
12.9
India
5.9
Brazil
4.6
Taiwan
2.4
50.7% United States
86.7% Developed
12.9% Em and Frontier

Country weights are calculated as a percentage of total portfolio including cash & cash equivalents.

Commentary & Literature

Commentary
Fact Sheet
News & Updates

Global Mid Caps

January 31, 2020

At Wasatch Global Investors, we got our start managing U.S. micro– and small–cap strategies. We’ve…

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Wasatch Advisors Rebrands as Wasatch Global Investors

September 24, 2019

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

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Important Disclosures

Portfolio Characteristics, Allocations and Top Ten Holdings are derived from a representative account.

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.

Portfolio holdings are subject to risks and may change at any time.

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