Wasatch Global Select Strategy

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 Portfolio Manager

5 years on strategy

8 years at wasatch

Paul Lambert Portfolio Manager

5 years on strategy

22 years at wasatch

Linda Lasater Portfolio Manager

5 years on strategy

15 years at wasatch

Mike Valentine Portfolio Manager

5 years on strategy

5 years at wasatch

Performance

Average Annual Total Returns AS OF 03/31/22 AS OF 04/30/22

Quarter-End Month-end

1 Month

3 Month

ytd

1 yr

3 yr

5 yr

10 yr

Since
Inception

Global Select Composite (Gross)

-10.51%

-13.74%

-25.34%

-19.10%

7.49%

11.06%

N/A

12.19%

Global Select Composite (Net)

-10.58%

-13.93%

-25.56%

-19.79%

6.74%

10.60%

N/A

11.75%

MSCI AC World Index

-8.00%

-8.44%

-12.94%

-5.44%

9.41%

9.46%

N/A

10.54%

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 12/31/21)

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 03/31/22

Portfolio

Index

Number of Holdings

36

2939

Average Market Cap
($ Weighted)

$28.21B

$415.53B

Median Market Cap

$13.81B

$12.37B

EPS Growth (%, est. 5 yr)

25

15

P/E (Forward)

31

16

Portfolio Turnover (%)

47.48

N/A

Active Share (%)

99

N/A

Performance Statistics AS OF 03/31/22

5 yr

Alpha

2.69

Beta

0.99

R-Squared

0.77

Standard Deviation

16.98

Upside Capture

115.07

Downside Capture

99.28

Top 10 Holdings AS OF 03/31/22

Company

% of Net Assets

Roper Technologies Inc.

4.3%

Amphenol Corp.- Cl A

4.2%

Morningstar Inc.

4.1%

Bajaj Finance Ltd. (India)

4.1%

Copart Inc.

3.9%

Bank OZK

3.8%

HDFC Bank Ltd. (India)

3.8%

Assa Abloy AB (Sweden)

3.6%

Icon PLC (Ireland)

3.6%

Abcam PLC (United Kingdom)

3.6%

36 Number of holdings

99% Active share

Sector Allocation AS OF 03/31/22

Sector

Portfolio

Index

Information Technology

25.4 %

22.4 %

Industrials

21.6 %

9.5 %

Financials

20.9 %

14.6 %

Health Care

18.5 %

11.9 %

Consumer Discretionary

8.3 %

11.7 %

Cash & Cash Equivalents*

2.6 %

N/A

Communication Services

1.5 %

8.1 %

Consumer Staples

1.3 %

6.9 %

Materials

0.0 %

5.0 %

Energy

0.0 %

4.3 %

Utilities

0.0 %

2.9 %

Real Estate

0.0 %

2.7 %

Country Allocation AS OF 03/31/22

Portfolio (%)

Developed

83.0%

United States

48.9%

Japan

9.0%

Sweden

3.6%

Ireland

3.6%

United Kingdom

3.6%

Denmark

3.5%

Spain

3.0%

Other

7.9%

Emerging & Frontier

14.3%

India

10.4%

Taiwan

4.0%

Russia

0.0%

48.9% United States

83.0% Developed

14.3% 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…

Wasatch Advisors Rebrands as Wasatch Global Investors

September 24, 2019

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

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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