Wasatch Global Value Strategy

Strategy Overview

Objective

Capital appreciation and income

Highlights

A concentrated, yet diversified high-conviction portfolio of 25-40 stocks
Value-oriented – focus on buying stocks below their long-term intrinsic value
Truly active, collaborative, bottom-up, fundamental process
Disciplined portfolio construction and risk analysis

Investment Approach

Fundamentally driven, supported by a historically robust quantitative screen, exhaustive fundamental analysis and rigorous attention to portfolio construction and risk analysis

Key to our process is building in-depth financial models, including detailed segment analysis. This provides insight into company business drivers, growth and profitability characteristics, enabling a view into intrinsic value

At least 40% of the portfolio invested outside the U.S.

Primarily invests in companies with market caps over $5 billion

Approximately 25-40 positions

Portfolio Managers

David Powers Lead Portfolio Manager

4 years on strategy

8 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 Value Composite (Gross)

-4.22%

-4.55%

-1.68%

5.28%

11.02%

N/A

8.87%

Global Value Composite (Net)

-4.29%

-4.76%

-1.96%

4.40%

10.09%

N/A

7.96%

MSCI AC World Value Index

-5.05%

-4.81%

-5.96%

0.28%

6.21%

N/A

4.75%

MSCI AC World Index

-8.00%

-8.44%

-12.94%

-5.44%

9.41%

N/A

7.89%

Returns for periods less than one year are not annualized. Since inception performance is calculated from 11/30/2017.

Calendar Year Returns (%) NET OF FEES (AS OF 12/31/21)

Global Value Composite

MSCI AC World Value 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 Value Composite contains fully discretionary equity accounts following the Global Value style. The composite primarily invests in equities in domestic and foreign markets with the goal of capital appreciation and income. For comparison purposes the composite is measured against the MSCI AC World Net TR Index.

The MSCI AC World Value TR Net Index is an unmanaged index capturing large and mid-cap securities exhibiting overall value style characteristics across 23 developed markets and 23 emerging markets.

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.

See More +

Portfolio

Characteristics AS OF 03/31/22

Portfolio

Index

Number of Holdings

36

1883

Average Market Cap
($ Weighted)

$104.09B

$127.86B

Median Market Cap

$44.54B

$12.36B

EPS Growth (%, est. 5 yr)

11

12

P/E (Forward)

11

12

Portfolio Turnover (%)

43.38

N/A

Active Share (%)

93

N/A

Performance Statistics AS OF 03/31/22

Since Inception

Alpha

3.69

Beta

1.05

R-Squared

0.94

Standard Deviation

18.14

Upside Capture

107.54

Downside Capture

90.78

Top 10 Holdings AS OF 03/31/22

Company

% of Net Assets

Johnson & Johnson

4.7%

Verizon Communications Inc.

4.1%

Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Germany)

3.6%

Suncor Energy Inc. (Canada)

3.6%

TotalEnergies SE (France)

3.5%

Duke Energy Corp.

3.5%

Union Pacific Corp.

3.3%

Axis Capital Holdings Ltd.

3.2%

JPMorgan Chase & Co.

3.2%

Bristol-Myers Squibb Co.

3.2%

36 Number of holdings

93% Active share

Sector Allocation AS OF 03/31/22

Sector

Portfolio

Index

Financials

23.1 %

22.5 %

Health Care

12.7 %

13.6 %

Energy

10.1 %

7.2 %

Industrials

10.0 %

10.5 %

Consumer Staples

8.1 %

8.6 %

Real Estate

6.7 %

4.4 %

Communication Services

6.6 %

4.4 %

Utilities

6.4 %

5.2 %

Consumer Discretionary

5.3 %

7.5 %

Materials

4.5 %

6.7 %

Information Technology

4.5 %

9.4 %

Cash & Cash Equivalents*

2.1 %

N/A

Country Allocation AS OF 03/31/22

Portfolio (%)

Developed

90.3%

United States

51.1%

United Kingdom

8.9%

Japan

7.4%

France

6.1%

Singapore

5.5%

Germany

5.2%

Canada

3.6%

Other

2.4%

Emerging & Frontier

7.7%

South Korea

5.3%

Taiwan

2.3%

51.1% United States

90.3% Developed

7.7% Em and Frontier

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

Commentary & Literature

Commentary

Fact Sheet

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…

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.

See More +