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Wasatch Frontier Emerging Small Countries Fund (WAFMX) will close to new investors

JimJ
in Fund Discussions
Effective at the end of market trading (4:00 p.m. EST) on May 9, 2014, the Wasatch Frontier Emerging Small Countries Fund (WAFMX) will close to new investors. The Fund will remain open to existing Fund shareholders, as well as current and future clients of financial advisors and retirement plans with an established position in the Fund.

The Fund will also remain open to new and existing shareholders who purchase shares directly from Wasatch Funds.

Wasatch takes fund capacity very seriously. We monitor assets in each of our funds carefully and commit to shareholders to close funds before asset levels rise to a point that would alter our intended investment strategy. At this time we believe it is appropriate to begin limiting future access to the Frontier Emerging Small Countries Fund.

If you have any questions, please don't hesitate to call us at 800.551.1700.

Regards,

Gene Podsiadlo
Director of Mutual Funds
Wasatch Funds

Comments

  • JimJ
    Personally my favorite fund - take the countries in the earliest development stage of their economies with the youngest populations and the fastest GDP growth and invest heavily in consumer staples. Clearly there is lots of market risk here but the manager seems to be handling it well so far.

    Jim
  • mcmarasco
    A very good fund and I'm invested in it, so I am glad to see them be a little proactive and close to new investors! I also appreciate the relatively "short notice" they gave (i.e. 10 days).

    All too often a fund company will give a 30-day or more advanced notice of closure. I hope this will keep the "rush to get a foothold" at a minimum!

    Matt
  • Kaspa
    Ditto. Like the fund and soft closing.
  • LLJB
    I like the fund and I like their approach to invest in the rising middle class. I wish they had closed the fund sooner and I wrote to them a few weeks ago asking why the had closed WAIGX at a lower asset level with a much bigger investment universe. They didn't give anything away then, so I'm happy to see they've done something and I'm also glad its a soft close so I can continue to build my position even though I would openly support a hard close also.
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