https://www.sec.gov/Archives/edgar/data/806633/000119312516613617/d202782d497.htm497 1 d202782d497.htm WASATCH FUNDS TRUST
WASATCH FUNDS TRUST
Supplement dated June 6, 2016 to the
Prospectus and Summary Prospectus each dated January 31, 2016
Investor Class
Wasatch Frontier Emerging Small Countries Fund® - Investor Class (WAFMX)
This Supplement updates certain information contained in the Wasatch Funds Prospectus for Investor Class shares and the Wasatch Frontier Emerging Small Countries Fund Summary Prospectus for Investor Class shares, each dated January 31, 2016 as amended. You should retain this Supplement, the Prospectus and Summary Prospectus for future reference. Additional copies of the Prospectus may be obtained free of charge by visiting our web site at www.WasatchFunds.com or calling us at 800.551.1700.
PORTFOLIO MANAGERS
Effective June 6, 2016, Roger Edgley will be the Lead Portfolio Manager of the Wasatch Frontier Emerging Small Countries Fund (the “Fund”), Jared Whatcott will be a Portfolio Manager of the Fund, and Scott Thomas will be a Portfolio Manager of the Fund.
All references to Laura Geritz are hereby deleted.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
WASATCH FUNDS TRUST
Supplement dated June 6, 2016 to the
Prospectus and Summary Prospectus each dated January 31, 2016
Institutional Class
Wasatch Frontier Emerging Small Countries Fund® - Institutional Class (WIFMX)
This Supplement updates certain information contained in the Wasatch Funds Prospectus for Institutional Class shares and the Wasatch Frontier Emerging Small Countries Fund Summary Prospectus for Institutional Class shares, each dated January 31, 2016 as amended. You should retain this Supplement, the Prospectus and Summary Prospectus for future reference. Additional copies of the Prospectus may be obtained free of charge by visiting our web site at www.WasatchFunds.com or calling us at 800.551.1700.
PORTFOLIO MANAGERS
Effective June 6, 2016, Roger Edgley will be the Lead Portfolio Manager of the Wasatch Frontier Emerging Small Countries Fund (the “Fund”), Jared Whatcott will be a Portfolio Manager of the Fund, and Scott Thomas will be a Portfolio Manager of the Fund.
All references to Laura Geritz are hereby deleted.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
WASATCH FUNDS TRUST
Supplement dated June 6, 2016 to the
Prospectus and Summary Prospectus each dated January 31, 2016
Investor Class
Wasatch International Opportunities Fund® - Investor Class (WAIOX)
This Supplement updates certain information contained in the Wasatch Funds Prospectus for Investor Class shares and the Wasatch International Opportunities Fund Summary Prospectus for Investor Class shares, each dated January 31, 2016 as amended. You should retain this Supplement, the Prospectus and Summary Prospectus for future reference. Additional copies of the Prospectus may be obtained free of charge by visiting our web site at www.WasatchFunds.com or calling us at 800.551.1700.
PORTFOLIO MANAGERS
Effective June 6, 2016, Jared Whatcott will be a Portfolio Manager of the Wasatch International Opportunities Fund (the “Fund”) and Linda Lasater will be a Portfolio Manager of the Fund.
All references to Laura Geritz are hereby deleted.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
WASATCH FUNDS TRUST
Supplement dated June 6, 2016 to the
Prospectus and Summary Prospectus each dated January 31, 2016
Institutional Class
Wasatch International Opportunities Fund® - Institutional Class (WAIOX)
This Supplement updates certain information contained in the Wasatch Funds Prospectus for Institutional Class shares and the Wasatch International Opportunities Fund Summary Prospectus for Institutional Class shares, each dated January 31, 2016 as amended. You should retain this Supplement, the Prospectus and Summary Prospectus for future reference. Additional copies of the Prospectus may be obtained free of charge by visiting our web site at www.WasatchFunds.com or calling us at 800.551.1700.
PORTFOLIO MANAGERS
Effective June 6, 2016, Jared Whatcott will be a Portfolio Manager of the Wasatch International Opportunities Fund (the “Fund”) and Linda Lasater will be a Portfolio Manager of the Fund.
All references to Laura Geritz are hereby deleted.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE ...
Comments
Regards,
Ted
https://secure.wasatchfunds.com/News.aspx
http://www.wandtv.com/story/32153365/wasatch-announces-portfolio-manager-changes
I was thinking along the same lines of GP.
It is a bit underwhelming fund so far based on its performance, and probably needs a good hand, though I am not sure how much she can help.
I'm not sure I'd agree with "underwhelming" for GPEOX so far. The history is short so I don't think it means much in the bigger picture, but it's beating its primary and secondary benchmarks since inception and with the exception of YTD 2016 it has also beaten both of the benchmarks each year by a pretty wide margin.
I think the confusion comes because M* lumps all diversified emerging markets funds together but the reality of the last few years has been that larger cap funds have done far better than smaller cap funds. If you look just at the emerging markets funds M* says are true small cap funds, of which there are very few, GPEOX is winning each year pretty easily. Even if you include mid-cap funds, of which there are more to compare, GPEOX is winning each year against most of those too. There's no question they've been in a tough place to play for a while now but in my mind they're doing really well against those they're competing with directly.
They have 2.5 years under their belt so far and it'll be more interesting to talk about their performance after at least 5 years but if the goal is to be exposed to true small cap emerging markets, which mine certainly was, then I think this has been a good choice so far even with the high expense ratio.
By what measure has the performance of GPEOX been underwhelming? Not really sure how you come to that conclusion...
I made 70% on GPOGX, but that pure luck in timing, and whereas GPEOX is in negative mostly since I brought and again that is pure bad luck in timing.
Matthews Asia has a frontier fund, MEASX, that is not heavy on financials, still has a small asset base and has low expenses compared to other frontier funds. The only drawback in my mind is that they're focused on Asia's frontier markets, which have done very well lately, but you're not going to get broad coverage of frontier markets from this fund.
Harding Loevner also has a fund, HLMOX, which is indeed pretty heavy on financials as claimui pointed out but I think they also have a very good process and a decent team. I think it's worth some research if you're looking for broader exposure.
I'm holding WAFMX at least until we find out more about how Edgley plans to manage the fund. Hopefully the 2nd quarter commentary will give us some insight into his plans and his thought process. I also own MEASX but not HLMOX, at least so far.
MEASX is an interesting option. Almost half of WAFMX is in Asia, if that helps with the comparison.
TD Ameritrade requires 100K for an IRA, the same as Fido, Scottrade, and Schwab.
DRFRX
Based on the minimums other than at TD Ameritrade they're not trying to bring in a lot of retail money but I almost wonder whether they're waiting for a time that seems better for Frontier Markets and mostly keeping it for their internal purposes and institutional clients in the meantime.
$2000 in fact for an IRA at TD. Called them early this a.m. and received the answer I posted above, emailed the firm for confirmation and was told $2,000, came back here, saw LLJB addition, did a chat with another TD rep, and was told 2K. 'Enuf said!
@LLJB I note that you posted in Nov. 14 when news of the fund's registration appeared here. Well, we've come a long way since then with a TD minimum of $2000!
I have a call in to my contact at Driehaus and will ask about "retail money" and some other items about the fund.
Best to all.
Thanks!
I hold DRESX and it has done remarkably poorly over the past year, even by emerging markets standards. Incidentally, all of the other Driehaus stock funds have extremely high turnover -- over 300% in DRESX's case -- although this information isn't available yet for DRFRX. Just for what it's worth.
I've read most of what they write about Frontier and Emerging markets for the last few years and in most cases I find the analysis consistent with the things that I believe in. That was one of the reasons I chose WAFMX originally, and I wanted the focus on a growing middle class in many of these countries. I also believe continued structural reforms are necessary and most of what they write suggests they're paying attention to those things both from the macro perspective but also the micro perspective.
Chad Cleaver has spent most of his investment career working with emerging markets and until the last couple of years had a great record. I don't follow DRESX closely so I'm not sure what happened but I've generally thought pretty highly of him. The high turnover that's normal for the Emerging Markets fund is more of a concern in a taxable account although originally I was hoping to put it in an IRA. That's something that I think bears watching as we start to get the one year data for the fund. I'd also watch the performance allocation. So far they've done okay but I guess part of that is thanks to the cash they've held.