Wasatch Global Investors announced today that effective at 4:00 p.m. EDT on March 19, 2021, the Wasatch Small Cap Value Fund and its related institutional Wasatch Small Cap Value strategy—will be “soft closed” to new investors due to capacity constraints following an extended period of growth.
“Small-cap value stocks have gained attention as economies slowly stabilize and investors seek investment opportunities beyond large-cap growth companies,” said Jim Larkins, Lead Portfolio Manager for the Small Cap Value Fund. “We remain optimistic about the Fund’s positioning to grow long-term, but that same long-term perspective necessitates closing the fund to new investors at this time.”
The Fund will be closed to new purchases, except purchases by new shareholders purchasing directly from Wasatch Funds, existing shareholders, and current and future clients purchasing through certain intermediaries, financial advisors and retirement plans with an established position.
“Wasatch has always believed that, first and foremost, a disciplined approach requires protecting the integrity of our investment process and the interests of existing shareholders,” said JB Taylor, CEO of Wasatch Global Investors. “Even as we are grateful for the Fund’s recent growth, we have opted to close in keeping with its focused mandate.”
| Fund to Soft Close Effective March 19, 2020 |
|Wasatch Fund||Share Classes||Portfolio Management|
|Small Cap Value ||Investor – WMCVX|
Institutional – WICVX
|Jim Larkins, Lead Portfolio Manager|
Austin Bone, Associate Portfolio Manager
About Wasatch Global Investors
Wasatch Global Investors is a 100% employee-owned investment manager founded in 1975 and headquartered in Salt Lake City, Utah. Named after the nearby Wasatch Mountain Range, the firm brings unparalleled experience to U.S. and international micro-, small- and mid-cap investing with a culture that emphasizes collaboration, excellence and intellectual curiosity. Wasatch had $34.8 billion in assets under management as of February 28, 2021. Wasatch Global Investors is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
Mutual fund investing involves risks and loss of principal is possible. Investing in small- or micro-cap funds will 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 markets, entails special risks such as currency fluctuations and political uncertainties, which are described in more detail in the prospectus. The investment objective of the Fund is long-term growth of capital.