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Overview

Fund Description

Investment Objective

The Fund’s investment objective is long-term growth of capital.

Investment Strategy

The Fund invests primarily in micro to midcap companies that are economically tied to emerging or frontier markets.

Portfolio Manager

Blake Walker
Research Analyst & Portfolio Manager
Chief Executive Officer

Guardian Portfolio Manager

Liping Cai, CFA®
Research Analyst & Portfolio Manager

Representative Geography

Fund Information

Fund Data & Pricing

As of As of Date Goes Here

Benchmarks

PrimaryMSCI Emerging Markets SMID Cap Index
MSCI Emerging Markets SMID Cap Index The MSCI Emerging Markets SMID Cap Index is designed to measure the equity market performance of small and mid-cap companies across emerging markets.
SecondaryMSCI Emerging Markets IMI Index
MSCI Emerging Markets IMI Index The MSCI Emerging Markets IMI index is designed to measure the equity market performance of large, mid, and small-cap companies across emerging markets.
You cannot invest directly in these or any indices.

Performance

Fund inception of 12/16/2013

Month end as of As of Date Goes Here

The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 1.855.377.PEAK (7325).

Returns for periods greater than one year are annualized. The Advisor may absorb certain Fund Expenses, without which total return would have been lower. Net expense ratios reflect the expense waiver, if any, contractually agreed to through October 6, 2024. A 2% redemption fee will be deducted on fund shares held 60 days or less. Performance data does not reflect this redemption fee or taxes.

Quarter end as of As of Date Goes Here

The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 1.855.377.PEAK (7325).

Returns for periods greater than one year are annualized. The Advisor may absorb certain Fund Expenses, without which total return would have been lower. Net expense ratios reflect the expense waiver, if any, contractually agreed to through October 6, 2024. A 2% redemption fee will be deducted on fund shares held 60 days or less. Performance data does not reflect this redemption fee or taxes.

Year end as of 12/31/2023

wdt_ID 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
1 Grandeur Peak Emerging Markets Opportunities Fund - Institutional 12.23% -24.50% 8.99% 31.03% 23.62% -20.48% 28.33% 6.89% -5.14% 7.56%
2 MSCI Emerging Markets SMID Cap Index - GR 19.09% -16.66% 12.80% 14.70% 12.80% -15.51% 34.93% 3.82% -9.85% -0.54%
3 MSCI Emerging Markets IMI Index - GR 12.13% -19.46% 0.06% 18.78% 18.10% -14.71% 37.28% 10.30% -13.55% -1.42%

The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 1.855.377.PEAK (7325).

Returns for periods greater than one year are annualized. The Advisor may absorb certain Fund Expenses, without which total return would have been lower. Net expense ratios reflect the expense waiver, if any, contractually agreed to through October 6, 2024. A 2% redemption fee will be deducted on fund shares held 60 days or less. Performance data does not reflect this redemption fee or taxes.

Historical Price (NAV)

As of As of Date Goes Here, updated quarterly

Hypothetical Growth of $10,000

As of As of Date Goes Here

Portfolio Characteristics

As of 12/31/2023, updated quarterly, subject to change.

Estimated 3-Year EPS Growth
Estimated 3-Year EPS Growth Estimated weighted average annual increase in Earnings Per Share (EPS) of the fund's holdings over the next 3 years. These returns are not guaranteed. Actual EPS growth may be higher or lower.
15.8%
Trailing P/E
Trailing P/E The trailing 12-month Price/Earnings (P/E) of the portfolio, calculated as a weighted harmonic average.
19.6
Return on Assets
Return on Assets Return on Assets (ROA) is a measure of how efficiently a company uses its assets to generate a profit, and is calculated by dividing company’s net income by total assets.
12.2%
Operating Margin
Operating Margin Operating Margin is a measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc. It is calculated by dividing Operating Income by Net Sales.
22.3%
Debt/Equity
Debt/Equity Debt/Equity is a measure of a company's financial leverage. It is calculated by dividing its total liabilities by stockholders' equity.
49%
Weighted Average Market Cap ($millions)
Weighted Average Market Cap The average market capitalization of companies held by the fund, weighted in proportion to their percentage of net assets in the fund.
$8,743
Median Market Cap ($millions)
Median Market Cap The median market cap is the midpoint of market capitalization of companies held by the fund.
$2,012
Number of Holdings111
Portfolio Turnover
Portfolio Turnover A measure of annual trading activity in the fund's portfolio, expressed as a percent.
43%

Equity Portfolio Composition

Access All Fund Holdings

Download XLS

Access All Fund Holdings

Download XLS

Top 10 Holdings

As of 10/31/2023, updated quarterly, subject to change

Company Name Country Sector % of Net Assets
1Globant S.A.ArgentinaTechnology2.7%
2WuXi AppTec Co LtdChinaHealth Care2.6%
3FPT CorpVietnamTechnology2.2%
4Dino Polska SAPolandConsumer Staples2.2%
5Inter Cars SAPolandConsumer Discretionary1.9%
6Sporton International, Inc.TaiwanIndustrials1.7%
7Techtronic Industries Co LimitedHong KongIndustrials1.7%
8Regional SAB de cvMexicoFinancials1.7%
9Sinbon Electronics Co., LimitedTaiwanTechnology1.6%
10Silergy CorpChinaTechnology1.6%
Total Top 10 Holdings20.0%

Holdings are released based on a 60-day lag from the most recent quarter end according to the Grandeur Peak Holdings Release Policy. Holdings are subject to change and do not constitute a recommendation or solicitation to buy or sell a particular security. Current and future holdings are subject to risk. Total amount subject to rounding.

Sector Weights

As of As of Date Goes Here, updated quarterly, subject to change

Market Capitalization

As of As of Date Goes Here, updated quarterly, subject to change

Regions

As of As of Date Goes Here, updated quarterly, subject to change
% of Total Equities
Asia ex Japan66.0%
Latin America18.2%
North America8.2%
Europe5.8%
Africa/Middle East1.9%
Total 100.0%
Values may sum to greater or less than 100% due to rounding.

Top 5 Countries

As of As of Date Goes Here, updated quarterly, subject to change
% of Total Equities
1China16.4%
2Brazil14.0%
3India13.1%
4Taiwan11.1%
5Mexico6.0%
Total Top 5 Countries60.8%

Cash & Equivalents

As of As of Date Goes Here, updated quarterly, subject to change
Cash & Equivalents0.3%

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