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Invest With Us

Wasatch Greater China Fund

Ticker WGGCX
NAV As of 04/12/21 $10.71
Daily Change As of 04/12/21 $-0.11 / -1.02%
Wasatch Greater China Fund
Ticker WGGCX
NAV $10.71
Daily Change $-0.11 / -1.02%
TOP

Fund Overview

Objective

Long-term growth of capital

Highlights
  • Seeks the highest-quality growth companies in the Greater China region (China, Hong Kong and Taiwan)
  • Truly active, collaborative, bottom-up, fundamental process
  • Systematic coverage of the Greater China universe and broad sector approach
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 orientation but bias towards small and mid-cap companies

Approximately 35-50 positions

Fund Managers
Dan Chace Dan Chace Lead Portfolio Manager
< 1 year on fund
18 years at wasatch
Allison He Allison He Associate Portfolio Manager
< 1 year on fund
8 years at wasatch
Pedro Huerta Pedro Huerta Associate Portfolio Manager
< 1 year on fund
4 years at wasatch
Kai Pan Kai Pan Associate Portfolio Manager
< 1 year on fund
1 years at wasatch
Kevin Unger Kevin Unger Associate Portfolio Manager
< 1 year on fund
5 years at wasatch

“Our strategy provides dedicated exposure to investment opportunities in Greater China, backed by Wasatch’s time-tested, bottom-up investment philosophy.”

—Dan Chace, LEAD PORTFOLIO MANAGER

Performance

Average Annual Total Returns AS OF 03/31/21 AS OF 03/31/21
Quarter-End Month-end
1 Month
3 Month
ytd
1 yr
3 yr
5 yr
10 yr
Since
Inception
Greater China Fund
-5.60%
-1.03%
-1.03%
N/A
N/A
N/A
N/A
6.10%
MSCI China Index
-6.28%
-0.43%
-0.43%
N/A
N/A
N/A
N/A
2.33%

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: Institutional Class 1.71% The Advisor has contractually agreed to limit certain expenses to 1.25% through at least 1/31/2022.

Growth of Hypothetical Investment 11/30/20 to 03/31/21
Greater China Fund
MSCI China 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.

Portfolio

Characteristics AS OF 03/31/21
Fund
Index
Number of Holdings
36
709
Average Market Cap
($ Weighted)
$118.68B
$249.84B
Median Market Cap
$15.20B
$7.88B
EPS Growth (%, est. 5 yr)
25
20
P/E (Forward)
35
14
Portfolio Turnover (%)
N/A
N/A
Active Share (%)
83
N/A
Performance Statistics AS OF 03/31/21
Since Inception
Alpha
N/A
Beta
N/A
R-Squared
N/A
Standard Deviation
N/A
Upside Capture
N/A
Downside Capture
N/A
Top 10 Holdings AS OF 12/31/20
Company
% of Net Assets
Wuxi Biologics Cayman, Inc.
4.3%
Meituan Dianping
4.2%
Tencent Holdings Ltd.
4.2%
Silergy Corp.
4.1%
Skshu Paint Co. Ltd.
4.1%
Alibaba Group Holding Ltd.
4.1%
TAL Education Group ADR
3.7%
Techtronic Industries Co. Ltd.
3.3%
Ping An Insurance Group Co. of China Ltd.
3.2%
Jiangsu Hengrui Medicine Co. Ltd.
3.2%
36 Number of holdings
83% Active share
Sector Allocation AS OF 03/31/21
Sector
Fund
Index
Health Care
23.2%
6.7%
Consumer Discretionary
20.8%
33.9%
Financials
15.2%
14.5%
Consumer Staples
13.4%
4.4%
Information Technology
8.4%
6.0%
Industrials
7.1%
4.7%
Materials
6.3%
2.2%
Communication Services
4.6%
20.5%
Utilities
0.0%
2.0%
Energy
0.0%
1.2%
Real Estate
0.0%
4.0%

Weights are calculated as a percentage of net assets including cash & cash equivalents

Country Allocation AS OF 03/31/21
Fund (%)
Developed
12.2
Hong Kong
12.2
Emerging & Frontier
86.8
China
75.2
Taiwan
11.6

Weights are calculated as a percentage of net assets including cash & cash equivalents

12.2% Developed
86.8% Em and Frontier

Commentary & Literature

News & Updates

The Tide May Be Turning Toward Emerging Markets

March 5, 2021

One of our favorite observations about investing comes from Seth Klarman: “I…

Read More >

Semiconductors: The “New Oil”

February 19, 2021

While oil and other natural resources had been the foundation of emerging–market investing, silicon–based semiconductors will…

Read More >

Market Scout – Technology’s Rising Importance in Emerging Markets

January 8, 2021

When it comes to technological innovation around the world, semiconductor production is…

Read More >

Introducing the Wasatch Greater China Strategy

December 31, 2020

In this white paper, we introduce the Wasatch Greater China strategy and…

Read More >
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. Being non-diversified, the Fund can invest a larger portion of its assets in the stocks of a limited number of companies than a diversified fund. Non-diversification increases the risk of loss to the Fund if the values of these securities decline. The Fund is new and has a limited operating history. The Fund is subject to risks associated with investments in China and countries in the greater China region that could affect the value of your investment in the Fund, including government control over currencies, economic conditions, industries and specific issuers, as well as continued strained international relations, uncertainty regarding taxes, and limits on credible corporate governance and accounting standards. Because of its exposure to greater China, including Mainland China and China’s special administrative regions, such as Hong Kong, the Fund is subject to greater risk of loss as a result of volatile securities markets, adverse exchange rates and social, political, military, regulatory, economic or environmental developments, or natural disasters that may occur in the China region. The imposition of tariffs or other trade barriers by the U.S. or foreign governments on exports from China may also have an adverse impact on Chinese issuers. The Fund may invest in the securities of Chinese issuers through the China Stock Connect programs. Trading through the Stock Connect Programs is currently subject to a daily quota, which limits the maximum net purchases by all purchasers using the Stock Connect Programs each day. While the daily quotas are relatively large, there is the possibility that the quotas could be reduced or exceeded, meaning buy orders for China A-shares would be rejected, affecting the Fund’s ability to efficiently execute on its investment strategy.

The MSCI China Index captures large and mid cap representation across China A shares, H shares, B shares, Red chips, P chips and foreign listings (e.g. ADRs). The index covers about 85% of this China equity universe.

You cannot invest directly in any index.

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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